Charles Schwab Investment Management Inc. Boosts Stock Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Interpublic Group of Companies by 6.5%, owning approximately 13.78 million shares valued at $374 million as of the most recent SEC filing.
• Despite a 6.6% decline in revenue year-over-year, Interpublic reported earnings per share of $0.75, exceeding analysts' expectations of $0.55.
• The company declared a quarterly dividend of $0.33 per share, translating to an annual yield of 5.3%, with a payout ratio of 111.86%.

Charles Schwab Investment Management Inc. grew its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,781,455 shares of the business services provider's stock after acquiring an additional 842,925 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.73% of Interpublic Group of Companies worth $374,304,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its holdings in Interpublic Group of Companies by 139.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock worth $370,157,000 after acquiring an additional 7,693,636 shares in the last quarter. First Trust Advisors LP boosted its holdings in Interpublic Group of Companies by 13.0% in the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider's stock worth $363,584,000 after acquiring an additional 1,492,019 shares in the last quarter. Invesco Ltd. boosted its holdings in Interpublic Group of Companies by 14.8% in the fourth quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider's stock worth $287,618,000 after acquiring an additional 1,320,345 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Interpublic Group of Companies by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,422,468 shares of the business services provider's stock worth $207,974,000 after acquiring an additional 333,347 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Interpublic Group of Companies by 24.3% during the fourth quarter. Northern Trust Corp now owns 5,239,927 shares of the business services provider's stock worth $146,823,000 after purchasing an additional 1,025,589 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IPG shares. UBS Group decreased their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen started coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They set a "hold" rating for the company. JPMorgan Chase & Co. decreased their target price on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Citigroup reaffirmed a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Finally, Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $32.39.

Interpublic Group of Companies Stock Performance

IPG stock traded up $0.69 during trading on Wednesday, hitting $25.96. 3,152,449 shares of the company traded hands, compared to its average volume of 6,944,691. The stock's 50-day simple moving average is $24.49 and its 200 day simple moving average is $25.41. 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 $9.51 billion, a PE ratio of 22.00 and a beta of 1.05. 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 quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.20. The company 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%. Interpublic Group of Companies's quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $0.61 earnings per share. On average, equities analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.1%. Interpublic Group of Companies's payout ratio is 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.