Interpublic Group of Companies, Inc. (The) $IPG Stock Holdings Decreased by Comerica Bank

Key Points

• Comerica Bank decreased its stake in Interpublic Group of Companies by 13.2%, resulting in holdings worth $2,834,000 after selling 15,865 shares in the first quarter.
• Interpublic Group reported an earnings per share (EPS) of $0.75 for the last quarter, exceeding estimates of $0.55, although revenue decreased 6.6% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, which will be paid on September 16th, reflecting an annualized yield of 4.9%.

Comerica Bank lowered its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 104,339 shares of the business services provider's stock after selling 15,865 shares during the quarter. Comerica Bank's holdings in Interpublic Group of Companies were worth $2,834,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of IPG. The Manufacturers Life Insurance Company boosted its position in Interpublic Group of Companies by 6.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 377,753 shares of the business services provider's stock worth $10,585,000 after acquiring an additional 22,426 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the 4th quarter valued at $1,497,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Interpublic Group of Companies in the 4th quarter valued at $1,966,000. BNP Paribas Financial Markets boosted its holdings in shares of Interpublic Group of Companies by 30.7% in the 4th quarter. BNP Paribas Financial Markets now owns 1,709,454 shares of the business services provider's stock valued at $47,899,000 after purchasing an additional 401,236 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Interpublic Group of Companies in the 4th quarter valued at $2,039,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Analysts Set New Price Targets

IPG has been the topic of a number of research analyst reports. 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 report on Wednesday, July 23rd. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. JPMorgan Chase & Co. decreased 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 report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of "Hold" and an average price target of $32.39.

Interpublic Group of Companies Stock Up 1.0%

Interpublic Group of Companies stock traded up $0.27 during midday trading on Thursday, hitting $26.73. 1,578,244 shares of the stock were exchanged, compared to its average volume of 6,819,862. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The firm has a market cap of $9.79 billion, a P/E ratio of 22.66 and a beta of 1.09. 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 50 day moving average price of $25.49 and a two-hundred day moving average price of $25.27.

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 for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm's quarterly revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 4.9%. Interpublic Group of Companies's payout ratio is 111.86%.

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.