Interpublic Group of Companies, Inc. (The) $IPG Shares Bought by Goldman Sachs Group Inc.

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 first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,510,242 shares of the business services provider's stock after purchasing an additional 2,797,490 shares during the period. Goldman Sachs Group Inc. owned 2.30% of Interpublic Group of Companies worth $231,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IPG. Sentry Investment Management LLC bought a new position in Interpublic Group of Companies during the 1st quarter worth approximately $31,000. Raiffeisen Bank International AG bought a new position in Interpublic Group of Companies during the fourth quarter worth $42,000. FNY Investment Advisers LLC bought a new position in Interpublic Group of Companies during the first quarter worth $44,000. Grove Bank & Trust lifted its stake in Interpublic Group of Companies by 1,219.5% during the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock worth $64,000 after purchasing an additional 391 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Analyst Ratings Changes

IPG has been the topic of several research analyst reports. UBS Group reduced their price objective on 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. Barclays cut 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. Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Finally, JPMorgan Chase & Co. reduced their price objective on 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. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $32.01.

Interpublic Group of Companies Stock Performance

NYSE IPG traded up $0.07 during trading hours on Tuesday, hitting $26.36. The company had a trading volume of 4,324,180 shares, compared to its average volume of 4,944,057. 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 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $25.77 and a 200-day simple moving average of $25.20. The firm has a market cap of $9.65 billion, a P/E ratio of 22.34 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The company's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Equities analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is 111.86%.

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.