US Bancorp DE Sells 11,830 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• US Bancorp DE reduced its holdings in Interpublic Group of Companies by 33.9%, selling 11,830 shares during the first quarter, which brought its total holdings to 23,038 shares valued at approximately $626,000.
• Interpublic Group reported $0.75 EPS for the last quarter, exceeding the consensus estimate by $0.20, despite a 6.6% decline in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.33, representing an annualized dividend yield of 5.3%, with a payout ratio currently at 111.86%.

US Bancorp DE lowered its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 33.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,038 shares of the business services provider's stock after selling 11,830 shares during the period. US Bancorp DE's holdings in Interpublic Group of Companies were worth $626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Envestnet Asset Management Inc. grew its position in Interpublic Group of Companies by 23.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 708,590 shares of the business services provider's stock worth $19,855,000 after acquiring an additional 134,173 shares during the last quarter. Bank of Nova Scotia lifted its stake in Interpublic Group of Companies by 3.5% in the fourth quarter. Bank of Nova Scotia now owns 49,823 shares of the business services provider's stock valued at $1,396,000 after buying an additional 1,672 shares during the period. Raymond James Financial Inc. acquired a new position in Interpublic Group of Companies during the 4th quarter worth approximately $51,794,000. Sterling Capital Management LLC raised its stake in Interpublic Group of Companies by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 22,329 shares of the business services provider's stock worth $626,000 after buying an additional 7,965 shares during the period. Finally, Barclays PLC raised its stake in Interpublic Group of Companies by 0.3% during the 4th quarter. Barclays PLC now owns 1,656,540 shares of the business services provider's stock worth $46,417,000 after buying an additional 4,787 shares during the period. Institutional investors own 98.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on IPG shares. Wall Street Zen started coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. UBS Group lowered their price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their price objective 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. Finally, Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies currently has a consensus rating of "Hold" and an average price target of $32.39.

Interpublic Group of Companies Stock Performance

NYSE:IPG traded up $0.37 during trading hours on Friday, reaching $26.22. The stock had a trading volume of 2,161,931 shares, compared to its average volume of 6,926,858. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day simple moving average of $24.62 and a 200 day simple moving average of $25.39. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The stock has a market cap of $9.60 billion, a P/E ratio of 22.22 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the company earned $0.61 earnings per share. The business's revenue for the quarter was down 6.6% on a year-over-year basis. On average, research 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 firm 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 5.0%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

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.