Interpublic Group of Companies, Inc. (The) $IPG Shares Purchased by Pentwater Capital Management LP

Key Points

• Pentwater Capital Management LP increased its holdings in Interpublic Group of Companies by 568.6%, acquiring 1,990,000 additional shares in the first quarter.
• Interpublic Group of Companies reported an EPS of $0.75 for the last quarter, exceeding analysts' estimates by $0.20, despite a 6.6% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.33 per share, representing a yield of 4.9% and a payout ratio of 111.86%.

Pentwater Capital Management LP increased its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 568.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,340,000 shares of the business services provider's stock after purchasing an additional 1,990,000 shares during the period. Interpublic Group of Companies accounts for about 0.5% of Pentwater Capital Management LP's portfolio, making the stock its 20th largest position. Pentwater Capital Management LP owned about 0.63% of Interpublic Group of Companies worth $63,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Sentry Investment Management LLC acquired a new stake in shares of Interpublic Group of Companies during the first quarter worth $31,000. Raiffeisen Bank International AG purchased a new position in Interpublic Group of Companies in the 4th quarter worth $42,000. FNY Investment Advisers LLC acquired a new stake in Interpublic Group of Companies during the 1st quarter worth about $44,000. Grove Bank & Trust grew its stake in Interpublic Group of Companies by 1,219.5% during the 1st quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Brooklyn Investment Group increased its holdings 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 valued at $64,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

Shares of IPG stock traded up $0.73 on Thursday, reaching $26.69. 5,450,404 shares of the company were exchanged, compared to its average volume of 6,768,924. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. 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 business has a 50-day moving average price of $25.68 and a 200 day moving average price of $25.24. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 22.62 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The firm's quarterly revenue was down 6.6% on a year-over-year basis. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of recent research reports. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. UBS Group lowered their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reduced 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 note on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.01.

Interpublic Group of Companies Company 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.