ING Groep NV Buys 270,489 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• ING Groep NV significantly increased its stake in Interpublic Group, purchasing an additional 270,489 shares, resulting in a total ownership of 318,066 shares, valued at approximately $8.6 million.
• Analysts have downgraded the price targets for IPG, with UBS Group lowering its target from $27.00 to $25.60 and maintaining a "neutral" rating.
• Interpublic Group announced a quarterly dividend of $0.33 per share, reflecting a 5.4% dividend yield with a payout ratio of 111.86%.

ING Groep NV grew its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 568.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 318,066 shares of the business services provider's stock after acquiring an additional 270,489 shares during the period. ING Groep NV owned 0.09% of Interpublic Group of Companies worth $8,639,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Bank of Nova Scotia lifted its stake in shares of Interpublic Group of Companies by 652.4% in the 1st quarter. Bank of Nova Scotia now owns 374,889 shares of the business services provider's stock valued at $10,182,000 after acquiring an additional 325,066 shares during the last quarter. Jefferies Financial Group Inc. raised its position in Interpublic Group of Companies by 76.9% during the 1st quarter. Jefferies Financial Group Inc. now owns 47,500 shares of the business services provider's stock worth $1,290,000 after purchasing an additional 20,654 shares during the last quarter. Alberta Investment Management Corp bought a new position in Interpublic Group of Companies during the 1st quarter worth $6,790,000. Alpine Associates Management Inc. raised its position in Interpublic Group of Companies by 340.9% during the 1st quarter. Alpine Associates Management Inc. now owns 1,551,100 shares of the business services provider's stock worth $42,128,000 after purchasing an additional 1,199,300 shares during the last quarter. Finally, Howard Capital Management Inc. raised its position in Interpublic Group of Companies by 21.2% during the 1st quarter. Howard Capital Management Inc. now owns 11,809 shares of the business services provider's stock worth $321,000 after purchasing an additional 2,063 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IPG. UBS Group lowered 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 report on Wednesday, July 23rd. Citigroup reaffirmed 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. JPMorgan Chase & Co. lowered their price objective on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Finally, Wall Street Zen assumed coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $32.39.

Interpublic Group of Companies Stock Up 0.8%

Shares of IPG traded up $0.21 during trading hours on Wednesday, hitting $24.95. The stock had a trading volume of 4,602,261 shares, compared to its average volume of 7,229,120. The firm has a market capitalization of $9.14 billion, a P/E ratio of 21.14 and a beta of 1.05. 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 1-year low of $22.51 and a 1-year high of $33.05. The firm has a 50 day simple moving average of $24.37 and a 200-day simple moving average of $25.52.

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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. Sell-side analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, September 2nd. 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.