Interpublic Group of Companies, Inc. (The) $IPG Shares Purchased by Woodline Partners LP

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

A number of other institutional investors also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board grew its stake in Interpublic Group of Companies by 5.1% in the first quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider's stock valued at $377,127,000 after purchasing an additional 674,938 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Interpublic Group of Companies by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider's stock valued at $374,304,000 after buying an additional 842,925 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Interpublic Group of Companies by 49.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider's stock worth $231,138,000 after buying an additional 2,797,490 shares during the last quarter. Deutsche Bank AG grew its position in shares of Interpublic Group of Companies by 32.0% in the 1st quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider's stock worth $135,051,000 after buying an additional 1,206,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Interpublic Group of Companies by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,670,228 shares of the business services provider's stock worth $130,860,000 after acquiring an additional 267,879 shares in the last quarter. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

NYSE:IPG traded down $0.31 during mid-day trading on Friday, hitting $26.40. The company's stock had a trading volume of 3,316,785 shares, compared to its average volume of 5,028,826. The business's fifty day moving average is $25.73 and its two-hundred day moving average is $25.21. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 22.37 and a beta of 1.09. 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.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.20. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. Analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio is currently 111.86%.

Analyst Ratings Changes

IPG has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of 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. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. Finally, 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 report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $32.01.

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.