Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. has reduced its stake in Interpublic Group of Companies by 6.3%, now owning 0.12% of the company, valued at approximately $12.4 million.
• Interpublic's recent quarterly earnings report showed an EPS of $0.75, surpassing estimates by $0.20, but the company experienced a 6.6% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 5.0%, despite a high payout ratio of 111.86%.

Advisors Asset Management Inc. reduced its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 455,921 shares of the business services provider's stock after selling 30,891 shares during the quarter. Advisors Asset Management Inc. owned about 0.12% of Interpublic Group of Companies worth $12,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sentry Investment Management LLC purchased a new position in shares of Interpublic Group of Companies in the 1st quarter valued at approximately $31,000. Raiffeisen Bank International AG purchased a new position in Interpublic Group of Companies during the 4th quarter worth approximately $42,000. FNY Investment Advisers LLC purchased a new position in Interpublic Group of Companies during the 1st quarter worth approximately $44,000. Grove Bank & Trust raised its position in Interpublic Group of Companies by 1,219.5% during the 1st quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after buying an additional 2,000 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in Interpublic Group of Companies by 20.0% during the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock worth $64,000 after buying an additional 391 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IPG has been the subject of a number of recent research reports. UBS Group reduced their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. reduced their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.01.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock traded up $0.31 during trading on Friday, reaching $27.15. The company had a trading volume of 4,337,362 shares, compared to its average volume of 5,359,954. The firm's 50-day simple moving average is $25.60 and its 200 day simple moving average is $25.24. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The firm has a market capitalization of $9.94 billion, a PE ratio of 23.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter last year, the company earned $0.61 EPS. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.