Jane Street Group LLC Has $36.07 Million Stock Position in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Jane Street Group LLC significantly increased its stake in Interpublic Group of Companies by 1,475.5% during the 1st quarter, now owning over 1.3 million shares valued at approximately $36 million.
• Analysts have mixed opinions on the stock, with Barclays and UBS lowering their price targets significantly, while three analysts rate it as a Buy and five as a Hold.
• The company has announced a quarterly dividend of $0.33 per share, yielding 4.9%, and the dividend payout ratio stands at 111.86%.

Jane Street Group LLC raised its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 1,475.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,328,121 shares of the business services provider's stock after purchasing an additional 1,243,823 shares during the period. Jane Street Group LLC owned about 0.36% of Interpublic Group of Companies worth $36,072,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in IPG. Goldman Sachs Group Inc. raised its position in shares of Interpublic Group of Companies by 49.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider's stock valued at $231,138,000 after purchasing an additional 2,797,490 shares in the last quarter. Pentwater Capital Management LP increased its holdings in shares of Interpublic Group of Companies by 568.6% in the 1st quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider's stock valued at $63,554,000 after acquiring an additional 1,990,000 shares during the last quarter. Calamos Advisors LLC bought a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at approximately $46,172,000. Alliancebernstein L.P. increased its holdings in shares of Interpublic Group of Companies by 149.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider's stock valued at $71,476,000 after acquiring an additional 1,574,777 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Interpublic Group of Companies by 797.5% in the 4th quarter. Millennium Management LLC now owns 1,463,120 shares of the business services provider's stock valued at $40,997,000 after acquiring an additional 1,300,105 shares during the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IPG shares. 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 report on Thursday, July 10th. Barclays cut Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. UBS Group decreased 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 note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of "Hold" and a consensus target price of $32.01.

Interpublic Group of Companies Trading Up 0.8%

Shares of NYSE IPG traded up $0.22 during mid-day trading on Wednesday, hitting $26.58. 941,893 shares of the company traded hands, compared to its average volume of 6,693,713. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 22.52 and a beta of 1.09. 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 business has a 50 day moving average of $25.77 and a two-hundred day moving average of $25.20.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the business posted $0.61 earnings per share. Interpublic Group of Companies's revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was 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.