Gamco Investors INC. ET AL Sells 28,750 Shares of Interpublic Group of Companies, Inc. (The) $IPG

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 decreased its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 780,353 shares of the business services provider's stock after selling 28,750 shares during the period. Gamco Investors INC. ET AL owned about 0.21% of Interpublic Group of Companies worth $21,194,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sentry Investment Management LLC purchased a new position in Interpublic Group of Companies in the first quarter worth $31,000. Raiffeisen Bank International AG purchased a new position in Interpublic Group of Companies in the fourth quarter worth $42,000. FNY Investment Advisers LLC purchased a new position in Interpublic Group of Companies in the first quarter worth $44,000. Grove Bank & Trust boosted its position in Interpublic Group of Companies by 1,219.5% in the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in Interpublic Group of Companies by 20.0% in the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock worth $64,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG traded up $0.16 during trading on Monday, reaching $26.85. 2,410,150 shares of the stock traded hands, compared to its average volume of 5,475,969. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. 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 50-day moving average of $25.36 and a 200-day moving average of $25.25. The stock has a market capitalization of $9.83 billion, a P/E ratio of 22.75 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, beating analysts' consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis 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

IPG has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective 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. Barclays cut Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $34.00 to $27.50 in a research 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, UBS Group cut their price objective on 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. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.