Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management Co. has significantly reduced its stake in Interpublic Group of Companies, cutting its holdings by 91.6% during the first quarter, now owning just 12,231 shares valued at $332,000.
• Interpublic reported a quarterly EPS of $0.75, exceeding analysts' estimates of $0.55, despite a 6.6% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.33 to be paid on September 16, 2023, representing a annual yield of 5.0%.

Flputnam Investment Management Co. decreased its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 91.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,231 shares of the business services provider's stock after selling 133,479 shares during the quarter. Flputnam Investment Management Co.'s holdings in Interpublic Group of Companies were worth $332,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of IPG. Schonfeld Strategic Advisors LLC acquired a new position in shares of Interpublic Group of Companies during the fourth quarter valued at $1,497,000. BNP Paribas Financial Markets boosted its holdings in shares of Interpublic Group of Companies by 30.7% during the fourth quarter. BNP Paribas Financial Markets now owns 1,709,454 shares of the business services provider's stock valued at $47,899,000 after acquiring an additional 401,236 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Interpublic Group of Companies by 11.4% during the fourth quarter. Baird Financial Group Inc. now owns 82,564 shares of the business services provider's stock valued at $2,313,000 after acquiring an additional 8,434 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Interpublic Group of Companies by 52.5% during the fourth quarter. Cetera Investment Advisers now owns 106,853 shares of the business services provider's stock valued at $2,994,000 after acquiring an additional 36,803 shares during the period. Finally, Caption Management LLC acquired a new position in shares of Interpublic Group of Companies during the fourth quarter valued at $1,093,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $26.44 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The company's 50-day moving average price is $25.49 and its two-hundred day moving average price is $25.27. 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 cap of $9.68 billion, a PE ratio of 22.40 and a beta of 1.09.

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

Interpublic Group of Companies Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 5.0%. Interpublic Group of Companies's payout ratio is 111.86%.

Wall Street Analysts Forecast Growth

IPG has been the subject of several analyst reports. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. UBS Group cut 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. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Finally, JPMorgan Chase & Co. cut 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. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.

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