Interpublic Group of Companies, Inc. (The) $IPG Shares Bought by Sound Income Strategies LLC

Key Points

• Sound Income Strategies LLC increased its holdings in Interpublic Group of Companies by 5.6% in Q2, owning approximately 0.12% of the company valued at $11.2 million.
• Analysts currently give Interpublic Group a consensus rating of "Hold", with an average price target of $32.01, reflecting mixed sentiments on the stock's future performance.
• Interpublic recently declared a quarterly dividend of $0.33 per share, resulting in a 5.0% dividend yield with a high payout ratio of 111.86%.

Sound Income Strategies LLC grew its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 457,333 shares of the business services provider's stock after acquiring an additional 24,258 shares during the period. Sound Income Strategies LLC owned about 0.12% of Interpublic Group of Companies worth $11,196,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IPG. Assenagon Asset Management S.A. grew its stake in shares of Interpublic Group of Companies by 14,575.4% during the second quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider's stock valued at $76,359,000 after acquiring an additional 3,097,994 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 valued at $231,138,000 after acquiring an additional 2,797,490 shares in the last quarter. Pentwater Capital Management LP grew its stake in shares of Interpublic Group of Companies by 568.6% during the first quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider's stock valued at $63,554,000 after acquiring an additional 1,990,000 shares in the last quarter. Calamos Advisors LLC acquired a new stake in shares of Interpublic Group of Companies during the first quarter valued at about $46,172,000. Finally, Alliancebernstein L.P. grew its stake in shares of Interpublic Group of Companies by 149.0% during the first quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider's stock valued at $71,476,000 after acquiring an additional 1,574,777 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on IPG shares. Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Barclays cut 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. JPMorgan Chase & Co. reduced their price target on shares of 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. Finally, UBS Group reduced 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 research report on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $32.01.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $26.34 on Monday. 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 firm's 50-day moving average price is $26.00 and its two-hundred day moving average price is $25.12. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The stock has a market capitalization of $9.65 billion, a P/E ratio of 22.32 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter last year, the company posted $0.61 earnings per share. Interpublic Group of Companies's revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $0.33 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

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.

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