Citigroup Inc. Buys 146,151 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Citigroup Inc. increased its stake in Interpublic Group of Companies by 13.8% during the first quarter, owning approximately 1,203,528 shares valued at $32.7 million.
• The company reported an earnings per share (EPS) of $0.75 for the last quarter, exceeding expectations by $0.20, despite a 6.6% decline in revenue year-over-year.
• Interpublic Group declared a quarterly dividend of $0.33 per share, representing an annualized yield of 5.3%, with an upcoming payment date on September 16.

Citigroup Inc. increased its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 13.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,203,528 shares of the business services provider's stock after acquiring an additional 146,151 shares during the quarter. Citigroup Inc. owned about 0.33% of Interpublic Group of Companies worth $32,688,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Prosperity Consulting Group LLC increased its position in Interpublic Group of Companies by 2.3% during the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock worth $595,000 after acquiring an additional 470 shares during the period. Penserra Capital Management LLC increased its position in Interpublic Group of Companies by 3.8% during the first quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider's stock worth $410,000 after acquiring an additional 552 shares during the period. Diversified Trust Co increased its position in Interpublic Group of Companies by 0.5% during the first quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock worth $3,257,000 after acquiring an additional 572 shares during the period. GeoWealth Management LLC increased its position in Interpublic Group of Companies by 20.7% during the fourth 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. Finally, Palouse Capital Management Inc. grew its stake in Interpublic Group of Companies by 1.1% during the first quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider's stock worth $1,487,000 after buying an additional 574 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Up 1.0%

Interpublic Group of Companies stock traded up $0.25 during mid-day trading on Friday, hitting $26.10. 5,284,106 shares of the stock were exchanged, compared to its average volume of 6,285,047. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The firm's fifty day simple moving average is $24.68 and its two-hundred day simple moving average is $25.37. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 22.12 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business earned $0.61 EPS. The company's revenue was down 6.6% compared to the same quarter last year. Analysts forecast 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 will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 5.1%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

Analysts Set New Price Targets

A number of brokerages have 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 objective for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. JPMorgan Chase & Co. reduced their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. UBS Group reduced 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. Finally, Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a report on Saturday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $32.39.

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.