Miller Howard Investments Inc. NY Purchases 42,172 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Miller Howard Investments Inc. increased its holdings in Interpublic Group of Companies by 2.5% in Q2, now owning approximately $41.97 million worth of shares.
• Research analysts have mostly issued Hold ratings on IPG, with Barclays and UBS lowering their target prices significantly, while the average consensus target price is $32.01.
• Interpublic Group recently announced a quarterly dividend of $0.33 per share, representing an annualized yield of 5.1%, though its dividend payout ratio stands at 111.86%.

Miller Howard Investments Inc. NY raised its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,714,292 shares of the business services provider's stock after purchasing an additional 42,172 shares during the period. Miller Howard Investments Inc. NY owned about 0.46% of Interpublic Group of Companies worth $41,966,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at about $31,000. FNY Investment Advisers LLC bought a new position in Interpublic Group of Companies during the first quarter worth $44,000. Grove Bank & Trust boosted its holdings in Interpublic Group of Companies by 1,219.5% in the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after purchasing an additional 2,000 shares during the period. Brooklyn Investment Group increased its stake in Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock valued at $64,000 after purchasing an additional 391 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new stake in shares of Interpublic Group of Companies during the first quarter worth $102,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

NYSE:IPG traded down $0.32 during midday trading on Friday, hitting $25.70. 17,696,297 shares of the stock were exchanged, compared to its average volume of 4,841,101. The business has a 50-day moving average price of $25.84 and a two-hundred day moving average price of $25.18. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 21.78 and a beta of 1.09. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year 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.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its 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. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The business's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. Sell-side analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current 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. This represents a $1.32 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is 111.86%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Barclays cut 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. JPMorgan Chase & Co. reduced their price objective on 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, UBS Group dropped their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $32.01.

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.