Arvest Investments Inc. Cuts Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Arvest Investments Inc. reduced its stake in Interpublic Group by 31.3% during Q2, now holding 38,508 shares valued at approximately $943,000.
• Interpublic Group reported $0.75 earnings per share in its latest quarterly earnings, exceeding the consensus estimate by $0.20, despite a 6.6% drop in revenue year-over-year.
• The company announced a quarterly dividend of $0.33 per share, equating to an annualized yield of 5.0%, with a high dividend payout ratio of 111.86%.

Arvest Investments Inc. trimmed its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 31.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,508 shares of the business services provider's stock after selling 17,539 shares during the period. Arvest Investments Inc.'s holdings in Interpublic Group of Companies were worth $943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IPG. Swedbank AB grew its position in shares of Interpublic Group of Companies by 10.6% during the 1st quarter. Swedbank AB now owns 680,466 shares of the business services provider's stock valued at $18,481,000 after acquiring an additional 64,983 shares during the period. Intrua Financial LLC lifted its position in Interpublic Group of Companies by 18.5% during the first quarter. Intrua Financial LLC now owns 23,511 shares of the business services provider's stock valued at $639,000 after acquiring an additional 3,672 shares during the last quarter. Mattson Financial Services LLC raised its holdings in shares of Interpublic Group of Companies by 15.4% during the first quarter. Mattson Financial Services LLC now owns 35,510 shares of the business services provider's stock worth $964,000 after purchasing an additional 4,741 shares during the last quarter. Focus Partners Wealth grew its position in Interpublic Group of Companies by 100.3% during the first quarter. Focus Partners Wealth now owns 40,754 shares of the business services provider's stock valued at $1,107,000 after buying an additional 20,403 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Interpublic Group of Companies by 1,475.5% in the first quarter. Jane Street Group LLC now owns 1,328,121 shares of the business services provider's stock valued at $36,072,000 after purchasing an additional 1,243,823 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

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

Interpublic Group of Companies Price Performance

Shares of IPG traded down $0.45 during trading hours on Friday, hitting $25.57. The stock had a trading volume of 2,447,497 shares, compared to its average volume of 6,670,893. The company's fifty day moving average is $25.82 and its two-hundred day moving average is $25.20. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 21.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.20. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The business's quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. On average, analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.2%. Interpublic Group of Companies's payout ratio 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.