KLP Kapitalforvaltning AS Has $2.60 Million Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in Interpublic Group of Companies by 50.4% during the second quarter, owning 106,000 shares valued at approximately $2.60 million.
• The company's quarterly earnings exceeded expectations, reporting $0.75 EPS against a consensus estimate of $0.55, while revenue reached $2.17 billion, despite a year-over-year decline of 6.6%.
• A quarterly dividend of $0.33 per share was declared, resulting in an annualized yield of 5.1%, with a dividend payout ratio currently at 111.86%.

KLP Kapitalforvaltning AS lessened its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 50.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,000 shares of the business services provider's stock after selling 107,715 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Interpublic Group of Companies were worth $2,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at about $1,480,000. Sound Income Strategies LLC raised its stake in shares of Interpublic Group of Companies by 5.6% in the 2nd quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider's stock valued at $11,196,000 after purchasing an additional 24,258 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Interpublic Group of Companies by 2.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider's stock valued at $4,178,000 after purchasing an additional 3,547 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Interpublic Group of Companies by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider's stock valued at $1,185,000 after purchasing an additional 1,170 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake 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 during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Trading Down 1.7%

Interpublic Group of Companies stock opened at $26.11 on Friday. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. 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 market capitalization of $9.56 billion, a P/E ratio of 22.13 and a beta of 1.09. The stock has a 50-day simple moving average of $26.30 and a 200 day simple moving average of $25.16.

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 business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter last year, the company posted $0.61 earnings per share. Interpublic Group of Companies's quarterly revenue was down 6.6% on a year-over-year basis. Analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

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

Analyst Upgrades and Downgrades

IPG has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. UBS Group decreased their price objective 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. Weiss Ratings restated a "hold (c)" rating on shares of Interpublic Group of Companies in a report on Wednesday. Finally, Barclays raised their price objective on Interpublic Group of Companies from $27.50 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $32.09.

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.

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