Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Interpublic Group of Companies by 23.5%, now owning approximately 691,712 shares worth $18.79 million.
• Interpublic Group reported $0.75 earnings per share (EPS) for the latest quarter, exceeding expectations of $0.55, despite a 6.6% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.33, resulting in an annualized dividend yield of 5.3%, with a payout ratio of 111.86%.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 23.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691,712 shares of the business services provider's stock after purchasing an additional 131,532 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Interpublic Group of Companies worth $18,787,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Sentry Investment Management LLC purchased a new position in Interpublic Group of Companies during the first quarter valued at $31,000. Raiffeisen Bank International AG bought a new position in shares of Interpublic Group of Companies during the 4th quarter valued at about $42,000. FNY Investment Advisers LLC purchased a new position in shares of Interpublic Group of Companies during the first quarter valued at about $44,000. Grove Bank & Trust increased its holdings in shares of 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, GeoWealth Management LLC lifted its position in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after buying an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IPG. JPMorgan Chase & Co. dropped their price target 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. Wall Street Zen initiated coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They set a "hold" rating on the stock. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. 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. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to 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 Trading Up 0.8%

Shares of NYSE IPG traded up $0.20 during trading hours on Friday, hitting $26.05. 1,104,685 shares of the company traded hands, compared to its average volume of 6,920,275. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 22.07 and a beta of 1.05. The company's 50 day moving average price is $24.62 and its 200 day moving average price is $25.39. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. Interpublic Group of Companies's quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio is 111.86%.

Interpublic Group of Companies Company 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.