Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Shares Sold by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has decreased its stake in Interpublic Group of Companies by 37.8%, selling 16,858 shares and leaving them with 27,738 shares valued at $753,000.
• Interpublic Group reported a quarterly EPS of $0.75, surpassing estimates, despite a 6.6% decline in year-over-year revenue of $2.17 billion.
• The company recently declared a $0.33 quarterly dividend, equating to an annual yield of 5.3%, but noted an elevated payout ratio of 111.86%.

Aigen Investment Management LP trimmed its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 37.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,738 shares of the business services provider's stock after selling 16,858 shares during the period. Aigen Investment Management LP's holdings in Interpublic Group of Companies were worth $753,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Interpublic Group of Companies by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider's stock worth $374,304,000 after purchasing an additional 842,925 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Interpublic Group of Companies by 139.5% during 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 increased its position in shares of Interpublic Group of Companies by 13.0% during 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. Dimensional Fund Advisors LP increased its position in shares of Interpublic Group of Companies by 4.7% during 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 increased its position 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 acquiring an additional 1,025,589 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday. UBS Group decreased their price objective on shares of 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. decreased their price objective on shares of 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, Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $34.00 to $27.50 in a research report on Wednesday, June 25th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $32.39.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded up $0.25 during trading on Friday, hitting $26.10. The company's stock had a trading volume of 5,284,106 shares, compared to its average volume of 6,285,047. The company has a 50-day moving average of $24.68 and a 200-day moving average of $25.37. 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 debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 22.12 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share 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 analyst estimates of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. Interpublic Group of Companies's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. On average, sell-side analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

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 issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, September 2nd. 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.