iA Global Asset Management Inc. Makes New Investment in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• iA Global Asset Management Inc. has acquired 46,882 shares of Interpublic Group of Companies, valued at approximately $1,273,000, as per their latest 13F filing.
• Several hedge funds have enhanced their stakes in Interpublic Group, with hedge funds owning a total of 98.43% of the company's stock.
• The company recently announced a $0.33 quarterly dividend, which equates to a 5.3% dividend yield, despite a payout ratio of 111.86%.

iA Global Asset Management Inc. purchased a new stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,882 shares of the business services provider's stock, valued at approximately $1,273,000.

Other hedge funds have also made changes to their positions in the company. Prosperity Consulting Group LLC boosted its holdings in Interpublic Group of Companies by 2.3% during the 4th 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 last quarter. Penserra Capital Management LLC raised its stake in Interpublic Group of Companies by 3.8% in the 1st quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider's stock valued at $410,000 after acquiring an additional 552 shares during the period. Diversified Trust Co raised its stake in Interpublic Group of Companies by 0.5% in the 1st quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock valued at $3,257,000 after acquiring an additional 572 shares during the period. GeoWealth Management LLC raised its stake in Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock valued at $94,000 after acquiring an additional 573 shares during the period. Finally, Palouse Capital Management Inc. increased its position in shares of 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 valued at $1,487,000 after buying an additional 574 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group cut their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price target 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. Citigroup restated a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Wall Street Zen began coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating on the stock. Finally, Barclays cut Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $32.39.

Interpublic Group of Companies Price Performance

IPG stock traded up $0.08 during mid-day trading on Friday, reaching $24.91. 5,884,740 shares of the company's stock were exchanged, compared to its average volume of 6,852,436. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 21.11 and a beta of 1.05. The stock's 50 day moving average is $24.41 and its 200 day moving average is $25.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $0.61 earnings per share. The firm's revenue was down 6.6% compared to the same quarter last year. On average, research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. Interpublic Group of Companies's payout ratio is presently 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.