Lecap Asset Management Ltd. Invests $2.86 Million in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Lecap Asset Management Ltd. made a new investment in Interpublic Group of Companies, acquiring 116,787 shares valued at approximately $2.86 million, representing 1.0% of its total holdings.
• Interpublic Group's stock has seen a 5.1% decline, with a current market cap of $9.70 billion and a 12-month range between $22.51 and $33.05.
• The company announced a quarterly dividend of $0.33 per share, amounting to a 5% dividend yield, but its dividend payout ratio currently stands at an unusually high 111.86%.

Lecap Asset Management Ltd. purchased a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 116,787 shares of the business services provider's stock, valued at approximately $2,859,000. Interpublic Group of Companies makes up 1.0% of Lecap Asset Management Ltd.'s holdings, making the stock its 9th largest holding.

Several other hedge funds have also made changes to their positions in IPG. Assenagon Asset Management S.A. raised its position in Interpublic Group of Companies by 14,575.4% in the second quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider's stock valued at $76,359,000 after purchasing an additional 3,097,994 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Interpublic Group of Companies by 49.0% during 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 acquiring an additional 2,797,490 shares during the last quarter. Pentwater Capital Management LP raised its stake in Interpublic Group of Companies by 568.6% during 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 purchasing an additional 1,990,000 shares during the period. Calamos Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the first quarter worth $46,172,000. Finally, Alliancebernstein L.P. boosted its holdings in Interpublic Group of Companies by 149.0% in the first quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider's stock worth $71,476,000 after purchasing an additional 1,574,777 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Down 5.1%

Shares of NYSE:IPG opened at $26.49 on Thursday. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 22.45 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. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The business's 50 day moving average is $26.10 and its 200 day moving average is $25.16.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.20. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The business's revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. On average, sell-side analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Interpublic Group of Companies's dividend payout ratio is currently 111.86%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. dropped their price objective on shares of 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. Finally, UBS Group lowered their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $32.01.

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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