Goldman Sachs Group Inc. Purchases 2,797,490 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Goldman Sachs Group Inc. increased its stake in the Interpublic Group of Companies by 49.0% during the 1st quarter, owning approximately 2.30% of the company's shares valued at $231 million after purchasing nearly 2.8 million shares.
• Interpublic Group reported earnings of $0.75 per share for the last quarter, beating expectations, but noted a 6.6% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.33 per share, reflecting an annualized yield of 5.1%, with a payout ratio currently at 111.86%.

Goldman Sachs Group Inc. increased its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 49.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,510,242 shares of the business services provider's stock after purchasing an additional 2,797,490 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.30% of Interpublic Group of Companies worth $231,138,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IPG. Canada Pension Plan Investment Board raised its stake in shares of Interpublic Group of Companies by 5.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider's stock valued at $377,127,000 after buying an additional 674,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Interpublic Group of Companies by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider's stock valued at $374,304,000 after acquiring an additional 842,925 shares during the period. Deutsche Bank AG raised its position in Interpublic Group of Companies by 32.0% in the first quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider's stock worth $135,051,000 after purchasing an additional 1,206,542 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Interpublic Group of Companies by 6.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,670,228 shares of the business services provider's stock worth $130,860,000 after purchasing an additional 267,879 shares during the period. Finally, Magnetar Financial LLC boosted its holdings in Interpublic Group of Companies by 21.0% during the first quarter. Magnetar Financial LLC now owns 2,934,596 shares of the business services provider's stock valued at $79,704,000 after purchasing an additional 509,349 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $25.97 on Thursday. The business's fifty day moving average is $25.68 and its two-hundred day moving average is $25.24. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $9.51 billion, a P/E ratio of 22.01 and a beta of 1.09. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05.

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, beating analysts' consensus estimates of $0.55 by $0.20. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given 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 dividend payout ratio is presently 111.86%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IPG. JPMorgan Chase & Co. dropped their target price on 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. Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. UBS Group cut their price objective on 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, Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $32.01.

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.

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