Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Position Lowered by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management significantly reduced its holdings in Interpublic Group of Companies by 84.0%, now owning only 10,976 shares after selling 57,658 shares in the first quarter.
• Institutional investors collectively hold 98.43% of Interpublic Group's stock, indicating a strong institutional interest in the company.
• Interpublic recently reported $0.75 EPS for the quarter, exceeding expectations of $0.55, despite a 6.6% decline in revenue compared to the previous year.

Neo Ivy Capital Management lessened its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 84.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,976 shares of the business services provider's stock after selling 57,658 shares during the period. Neo Ivy Capital Management's holdings in Interpublic Group of Companies were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IPG. Sentry Investment Management LLC acquired a new stake in shares of Interpublic Group of Companies in the first quarter valued at approximately $31,000. Raiffeisen Bank International AG acquired a new stake in Interpublic Group of Companies during the fourth quarter worth $42,000. FNY Investment Advisers LLC acquired a new stake in Interpublic Group of Companies during the first quarter worth $44,000. Grove Bank & Trust increased its stake in Interpublic Group of Companies by 1,219.5% during the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after acquiring an additional 2,000 shares during the last quarter. Finally, GeoWealth Management LLC increased its stake in Interpublic Group of Companies by 20.7% during the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after acquiring an additional 573 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Trading Down 2.1%

Shares of IPG stock traded down $0.55 on Monday, reaching $25.50. 3,130,688 shares of the stock were exchanged, compared to its average volume of 7,083,981. The stock has a market cap of $9.34 billion, a P/E ratio of 21.61 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $24.32 and a two-hundred day moving average of $25.64. 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 (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.20. The firm 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 firm's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. On average, research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a yield of 5.18%. Interpublic Group of Companies's payout ratio is currently 111.86%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup reissued a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. UBS Group lowered their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered 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 report on Thursday, July 10th. Finally, Wall Street Zen began coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.