GAMMA Investing LLC Has $23.38 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

GAMMA Investing LLC lifted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 2,074.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,070 shares of the business services provider's stock after acquiring an additional 82,111 shares during the quarter. GAMMA Investing LLC's holdings in Interpublic Group of Companies were worth $23,380,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Interpublic Group of Companies by 30.7% during the 4th quarter. Wellington Management Group LLP now owns 1,109,155 shares of the business services provider's stock worth $31,079,000 after purchasing an additional 260,312 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Interpublic Group of Companies by 22.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 59,373 shares of the business services provider's stock worth $1,664,000 after buying an additional 10,725 shares during the last quarter. Copley Financial Group Inc. lifted its holdings in Interpublic Group of Companies by 4.6% in the fourth quarter. Copley Financial Group Inc. now owns 16,058 shares of the business services provider's stock valued at $450,000 after buying an additional 712 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $11,637,000. Finally, Forum Financial Management LP boosted its stake in Interpublic Group of Companies by 17.2% in the fourth quarter. Forum Financial Management LP now owns 7,612 shares of the business services provider's stock valued at $213,000 after acquiring an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Up 1.8%

Shares of IPG traded up $0.41 on Friday, hitting $23.07. The company's stock had a trading volume of 3,932,545 shares, compared to its average volume of 5,455,232. The firm's fifty day moving average price is $24.48 and its 200-day moving average price is $26.83. The Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 12.61 and a beta of 1.06.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business's revenue was down 6.9% on a year-over-year basis. On average, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date is Monday, June 2nd. Interpublic Group of Companies's payout ratio is presently 100.76%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Argus lowered Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Citigroup restated a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a "hold" rating on the stock. Finally, Barclays reduced their price objective on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of "Hold" and a consensus price target of $33.44.

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.