Benjamin Edwards Inc. Has $5.21 Million Stock Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Benjamin Edwards Inc. increased its stake in Interpublic Group of Companies by 48.4%, acquiring a total of 191,868 shares worth approximately $5.21 million.
• A quarterly dividend of $0.33 per share will be issued on September 16th, representing an annualized yield of 5.3% and a payout ratio of 111.86%.
• Interpublic Group reported $0.75 earnings per share for the last quarter, surpassing market expectations, despite a 6.6% decline in revenue compared to the previous year.

Benjamin Edwards Inc. raised its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 48.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,868 shares of the business services provider's stock after purchasing an additional 62,610 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.05% of Interpublic Group of Companies worth $5,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IPG. Sentry Investment Management LLC bought a new position in Interpublic Group of Companies in the first quarter valued at approximately $31,000. Raiffeisen Bank International AG bought a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $42,000. FNY Investment Advisers LLC bought a new position in shares of Interpublic Group of Companies during the 1st quarter worth approximately $44,000. Grove Bank & Trust boosted its stake in shares of 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 acquiring an additional 2,000 shares during the period. Finally, GeoWealth Management LLC boosted its stake in shares of Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after acquiring an additional 573 shares during the period. 98.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup reiterated a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. UBS Group reduced their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their target price on 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. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating for the company. Finally, Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.39.

Interpublic Group of Companies Stock Performance

IPG opened at $24.91 on Monday. The business has a fifty day simple moving average of $24.41 and a 200 day simple moving average of $25.44. The company has a market capitalization of $9.12 billion, a PE ratio of 21.11 and a beta of 1.05. 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 debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07.

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

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 5.3%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.