Jane Street Group LLC Raises Position in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Jane Street Group LLC significantly increased its stake in Interpublic Group of Companies by 1,475.5%, owning over 1.3 million shares valued at approximately $36 million.
• Interpublic recently reported a Q2 earnings per share of $0.75, surpassing analysts' expectations, despite revenue declining by 6.6% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, with a current yield of 4.9%, despite a high payout ratio of 111.86%.

Jane Street Group LLC increased its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 1,475.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,328,121 shares of the business services provider's stock after buying an additional 1,243,823 shares during the period. Jane Street Group LLC owned 0.36% of Interpublic Group of Companies worth $36,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sentry Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth $31,000. Raiffeisen Bank International AG purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $42,000. FNY Investment Advisers LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth $44,000. Grove Bank & Trust raised its position in shares of Interpublic Group of Companies by 1,219.5% in the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after buying an additional 2,000 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in shares of Interpublic Group of Companies by 20.0% in the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock worth $64,000 after buying an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Trading Up 0.6%

Shares of Interpublic Group of Companies stock traded up $0.16 during trading on Monday, reaching $26.85. 2,410,150 shares of the stock were exchanged, compared to its average volume of 5,475,969. 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 stock's fifty day moving average is $25.36 and its 200 day moving average is $25.25. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 22.75 and a beta of 1.09. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. Interpublic Group of Companies's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. As a group, equities research analysts expect 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 company also recently announced 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 4.9%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio is currently 111.86%.

Analysts Set New Price Targets

A number of research firms recently commented on IPG. Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. reduced their target price 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. Barclays cut Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, UBS Group reduced their target price 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. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $32.39.

About Interpublic Group of Companies

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.