Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its stake in Interpublic Group by 3.6%, owning approximately 0.21% of the company, valued at over $21 million after selling 28,750 shares.
• The company reported earnings of $0.75 per share for the quarter, exceeding estimates, alongside revenue of $2.17 billion, but indicating a 6.6% year-over-year decline.
• Interpublic Group has declared a quarterly dividend of $0.33 per share, yielding 4.9%, with a payout ratio of 111.86%.

Gamco Investors INC. ET AL cut its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 780,353 shares of the business services provider's stock after selling 28,750 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.21% of Interpublic Group of Companies worth $21,194,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IPG. Boothbay Fund Management LLC lifted its holdings in Interpublic Group of Companies by 179.1% in the fourth quarter. Boothbay Fund Management LLC now owns 27,195 shares of the business services provider's stock valued at $762,000 after acquiring an additional 17,451 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Interpublic Group of Companies by 6.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 377,753 shares of the business services provider's stock valued at $10,585,000 after acquiring an additional 22,426 shares during the period. Northern Trust Corp lifted its holdings in Interpublic Group of Companies by 24.3% in the fourth quarter. Northern Trust Corp now owns 5,239,927 shares of the business services provider's stock valued at $146,823,000 after acquiring an additional 1,025,589 shares during the period. TIG Advisors LLC acquired a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $4,034,000. Finally, Pentwater Capital Management LP acquired a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $9,807,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Down 1.6%

Shares of IPG stock opened at $26.71 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 22.63 and a beta of 1.05. The stock has a 50 day simple moving average of $25.15 and a 200-day simple moving average of $25.27. 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 announced its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.20. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The business's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. On average, equities research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently declared 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. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's payout ratio is presently 111.86%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IPG shares. Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price target 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 report on Saturday, August 16th. JPMorgan Chase & Co. reduced their target price 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. Finally, UBS Group reduced their target price on 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. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Interpublic Group of Companies presently has an average rating of "Hold" and a consensus price target of $32.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.