Berger Financial Group Inc Acquires 40,667 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Berger Financial Group Inc increased its stake in Interpublic Group of Companies by 26.0% in the first quarter, now owning approximately 0.05% of the company valued at $5.36 million.
• Institutional investors now hold 98.43% of Interpublic Group's stock, with significant increases in holdings reported by several major funds including the Canada Pension Plan Investment Board.
• The company declared a quarterly dividend of $0.33 per share, offering investors a 5.3% dividend yield, despite a payout ratio of 111.86%.

Berger Financial Group Inc raised its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 26.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,251 shares of the business services provider's stock after buying an additional 40,667 shares during the period. Berger Financial Group Inc owned 0.05% of Interpublic Group of Companies worth $5,357,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. raised its holdings in Interpublic Group of Companies by 48.4% during the first quarter. Benjamin Edwards Inc. now owns 191,868 shares of the business services provider's stock worth $5,211,000 after buying an additional 62,610 shares during the last quarter. Covestor Ltd lifted its stake in Interpublic Group of Companies by 12.5% during the 1st quarter. Covestor Ltd now owns 9,469 shares of the business services provider's stock valued at $258,000 after acquiring an additional 1,054 shares during the period. MUFG Securities EMEA plc purchased a new stake in Interpublic Group of Companies in the 1st quarter worth approximately $10,022,000. Wolverine Asset Management LLC grew its holdings in Interpublic Group of Companies by 90.3% during the 1st quarter. Wolverine Asset Management LLC now owns 42,629 shares of the business services provider's stock valued at $1,158,000 after buying an additional 20,230 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in Interpublic Group of Companies by 7.0% in the first quarter. Forsta AP Fonden now owns 128,700 shares of the business services provider's stock worth $3,495,000 after buying an additional 8,400 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

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. JPMorgan Chase & Co. decreased their price objective on shares of 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. Wall Street Zen started coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a "hold" rating for the company. Citigroup restated a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, UBS Group cut their price target 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. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $32.39.

Interpublic Group of Companies Stock Performance

IPG stock traded up $0.07 during midday trading on Monday, reaching $24.98. The stock had a trading volume of 5,797,878 shares, compared to its average volume of 6,876,178. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The firm has a fifty day simple moving average of $24.45 and a two-hundred day simple moving average of $25.41. The stock has a market cap of $9.15 billion, a PE ratio of 21.17 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data 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. 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 net margin of 4.27% and a return on equity of 28.72%. The firm's revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. As a group, equities research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. Interpublic Group of Companies's payout ratio is presently 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.