Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly reduced its stake in Interpublic Group of Companies, Inc. by 91.4%, ending the quarter with a holding valued at $32,000.
• Interpublic reported earnings of $0.75 per share, exceeding analyst expectations, with a revenue of $2.17 billion, despite a 6.6% decline year-over-year.
• The company announced a quarterly dividend of $0.33 per share, yielding 4.9%, with a payout ratio currently at 111.86%.

AlphaQuest LLC reduced its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 91.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,190 shares of the business services provider's stock after selling 12,603 shares during the quarter. AlphaQuest LLC's holdings in Interpublic Group of Companies were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IPG. Sentry Investment Management LLC purchased a new position in 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 in the 4th quarter valued at approximately $42,000. FNY Investment Advisers LLC purchased a new position in Interpublic Group of Companies in the 1st quarter valued at approximately $44,000. Grove Bank & Trust increased its stake in Interpublic Group of Companies by 1,219.5% in the 1st quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in Interpublic Group of Companies by 20.0% in the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock valued at $64,000 after purchasing an additional 391 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on IPG. Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their price target on 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, UBS Group lowered their price objective on 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. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $32.01.

Interpublic Group of Companies Trading Up 1.1%

Shares of NYSE:IPG traded up $0.31 during midday trading on Friday, reaching $27.15. The company's stock had a trading volume of 4,337,362 shares, compared to its average volume of 5,359,954. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 23.01 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The business has a 50 day moving average price of $25.60 and a 200 day moving average price of $25.23.

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

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.33 dividend. The ex-dividend date 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 presently 111.86%.

About Interpublic Group of Companies

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.