Invesco Ltd. Decreases Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Invesco Ltd. reduced its stake in Interpublic Group of Companies by selling 14,953 shares, bringing its total ownership to approximately 10.25 million shares, valued at $278.38 million.
• Interpublic Group's latest earnings report revealed earnings per share of $0.75, exceeding expectations of $0.55, despite a 6.6% decline in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.33 per share, translating to an annualized dividend of $1.32 and a yield of 5.2%.

Invesco Ltd. lessened its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,249,779 shares of the business services provider's stock after selling 14,953 shares during the period. Invesco Ltd. owned about 2.77% of Interpublic Group of Companies worth $278,384,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Sentry Investment Management LLC purchased a new stake in Interpublic Group of Companies during the 1st quarter worth $31,000. Raiffeisen Bank International AG acquired a new position in shares of Interpublic Group of Companies during the fourth quarter worth approximately $42,000. FNY Investment Advisers LLC acquired a new position in shares of Interpublic Group of Companies during the first quarter worth approximately $44,000. Grove Bank & Trust boosted its position in shares of 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 buying an additional 2,000 shares during the period. Finally, GeoWealth Management LLC raised its position in shares of Interpublic Group of Companies by 20.7% during the 4th 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.

Interpublic Group of Companies Stock Up 1.0%

Shares of NYSE IPG traded up $0.25 during midday trading on Friday, reaching $26.10. The company's stock had a trading volume of 5,284,106 shares, compared to its average volume of 6,285,047. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week 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. The stock has a 50 day simple moving average of $24.68 and a 200-day simple moving average of $25.35. The stock has a market capitalization 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, topping analysts' consensus estimates of $0.55 by $0.20. The company 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 company's revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 earnings per share. Equities research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio is presently 111.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IPG shares. JPMorgan Chase & Co. dropped their target price on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. UBS Group dropped their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a report on Saturday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $32.39.

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.