CCM Investment Group LLC Makes New $907,000 Investment in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• CCM Investment Group LLC has made a new investment of $907,000 in Interpublic Group of Companies, acquiring 34,502 shares in the first quarter.
• Interpublic Group reported $0.75 earnings per share for the quarter, exceeding expectations of $0.55, with a net margin of 4.27%.
• The company declared a quarterly dividend of $0.33 per share, with a dividend yield of 5.3%, which is notable as its payout ratio exceeds 100%.

CCM Investment Group LLC acquired a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 34,502 shares of the business services provider's stock, valued at approximately $907,000.

Several other large investors have also modified their holdings of the stock. Prosperity Consulting Group LLC boosted its holdings in Interpublic Group of Companies by 2.3% in the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock worth $595,000 after purchasing an additional 470 shares during the period. Penserra Capital Management LLC boosted its holdings in Interpublic Group of Companies by 3.8% in the first quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider's stock worth $410,000 after purchasing an additional 552 shares during the period. Diversified Trust Co boosted its holdings in Interpublic Group of Companies by 0.5% in the first quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock worth $3,257,000 after purchasing an additional 572 shares during the period. GeoWealth Management LLC boosted its holdings in Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after purchasing an additional 573 shares during the period. Finally, Palouse Capital Management Inc. boosted its holdings in Interpublic Group of Companies by 1.1% in the first quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider's stock worth $1,487,000 after purchasing an additional 574 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG traded up $0.27 during midday trading on Friday, reaching $26.12. 1,573,976 shares of the company traded hands, compared to its average volume of 6,923,577. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The stock has a 50-day moving average price of $24.62 and a 200 day moving average price of $25.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 22.14 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.27% and a return on equity of 28.72%. The business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The company's revenue was down 6.6% on a year-over-year basis. Sell-side analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's payout ratio is currently 111.86%.

Analysts Set New Price Targets

A number of research firms have commented on IPG. JPMorgan Chase & Co. decreased their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. UBS Group reduced their price target 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 assumed coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They set a "hold" rating for the company. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.39.

Interpublic Group of Companies Company 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.