Calamos Advisors LLC Buys Shares of 1,700,000 Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Calamos Advisors LLC acquired a new stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,700,000 shares of the business services provider's stock, valued at approximately $46,172,000. Calamos Advisors LLC owned about 0.46% of Interpublic Group of Companies as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC purchased a new position in shares of Interpublic Group of Companies during the 1st quarter worth approximately $31,000. OFI Invest Asset Management purchased a new position in shares of Interpublic Group of Companies during the 4th quarter worth approximately $36,000. Raiffeisen Bank International AG purchased a new position in shares of Interpublic Group of Companies during the 4th quarter worth approximately $42,000. FNY Investment Advisers LLC purchased a new position in shares of Interpublic Group of Companies during the 1st quarter worth approximately $44,000. Finally, Grove Bank & Trust raised 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 buying an additional 2,000 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IPG shares. Citigroup reissued 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. Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, Wall Street Zen began coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $32.72.

Interpublic Group of Companies Price Performance

NYSE IPG traded down $0.17 during mid-day trading on Friday, hitting $25.38. The stock had a trading volume of 4,872,664 shares, compared to its average volume of 5,865,478. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 19.37 and a beta of 1.05. The company has a 50 day simple moving average of $24.35 and a 200 day simple moving average of $25.99. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. Interpublic Group of Companies's quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. Equities analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

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.