Woodline Partners LP Has $19.20 Million Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Woodline Partners LP increased its stake in Interpublic Group by 3,058.8% in Q1, acquiring a total of 706,873 shares valued at approximately $19.2 million.
• Several other institutional investors also boosted their holdings, with Canada Pension Plan and Goldman Sachs increasing their stakes by 5.1% and 49.0% respectively during the same period.
• Analysts have mixed views on Interpublic Group, with price targets ranging from $25.60 to $34.00, and an average rating of "Hold" based on recent research reports.

Woodline Partners LP increased its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 3,058.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 706,873 shares of the business services provider's stock after acquiring an additional 684,495 shares during the quarter. Woodline Partners LP owned about 0.19% of Interpublic Group of Companies worth $19,199,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. MBB Public Markets I LLC bought a new position in Interpublic Group of Companies during the first quarter worth about $325,000. United Services Automobile Association bought a new position in Interpublic Group of Companies during the first quarter worth about $210,000. Caxton Associates LLP bought a new position in Interpublic Group of Companies during the first quarter worth about $2,608,000. Ashton Thomas Private Wealth LLC increased its position in Interpublic Group of Companies by 8.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 13,120 shares of the business services provider's stock worth $356,000 after acquiring an additional 1,055 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Interpublic Group of Companies by 49.0% during the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider's stock worth $231,138,000 after acquiring an additional 2,797,490 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Price Performance

Shares of IPG traded down $0.03 during mid-day trading on Tuesday, reaching $26.27. The company had a trading volume of 1,017,146 shares, compared to its average volume of 6,707,802. The company's 50 day simple moving average is $25.75 and its 200 day simple moving average is $25.19. 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 company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 22.25 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $2.15 billion. During the same period last year, the company posted $0.61 EPS. The firm's quarterly revenue was down 6.6% compared to the same quarter last year. Analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared 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 5.0%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

Analyst Ratings Changes

A number of equities analysts recently commented on IPG shares. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. UBS Group reduced their price objective on shares of 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. JPMorgan Chase & Co. reduced their price objective on shares of 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. Finally, Barclays downgraded shares of 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. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.