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Avantax Advisory Services Inc. Buys 10,395 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Interpublic Group of Companies logo with Business Services background

Key Points

  • Avantax Advisory Services Inc. increased its stake in Interpublic Group of Companies by 45.1% during the first quarter, resulting in holdings worth $908,000.
  • The company recently reported earnings of $0.75 per share, exceeding estimates, with a revenue of $2.17 billion but down 6.6% from the previous year.
  • A quarterly dividend of $0.33 per share has been declared, with an annualized yield of 5.4% despite a payout ratio of 111.86%.
  • MarketBeat previews top five stocks to own in September.

Avantax Advisory Services Inc. lifted its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 45.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,440 shares of the business services provider's stock after purchasing an additional 10,395 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Interpublic Group of Companies were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $17,884,000. Schroder Investment Management Group raised its holdings in Interpublic Group of Companies by 1.0% during the fourth quarter. Schroder Investment Management Group now owns 133,888 shares of the business services provider's stock worth $3,721,000 after buying an additional 1,267 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Interpublic Group of Companies by 30.7% in the 4th quarter. Wellington Management Group LLP now owns 1,109,155 shares of the business services provider's stock worth $31,079,000 after acquiring an additional 260,312 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Interpublic Group of Companies by 156.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,056,905 shares of the business services provider's stock worth $29,614,000 after acquiring an additional 644,621 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Interpublic Group of Companies by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 297,680 shares of the business services provider's stock worth $8,341,000 after purchasing an additional 1,743 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Down 1.5%

NYSE IPG traded down $0.37 during mid-day trading on Friday, reaching $24.23. 4,219,129 shares of the company's stock traded hands, compared to its average volume of 7,380,161. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a fifty day simple moving average of $24.35 and a 200-day simple moving average of $25.57. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 20.53 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, equities research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

Analyst Ratings Changes

A number of brokerages have weighed in on IPG. Citigroup reiterated a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. UBS Group decreased their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating on the stock. Finally, 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 on the stock in a research report on Thursday, July 10th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $32.39.

View Our Latest Stock Analysis on Interpublic Group of Companies

Interpublic Group of Companies Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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