Miller Howard Investments Inc. NY Sells 28,734 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Miller Howard Investments Inc. NY decreased its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,672,120 shares of the business services provider's stock after selling 28,734 shares during the quarter. Interpublic Group of Companies makes up 1.4% of Miller Howard Investments Inc. NY's holdings, making the stock its 27th largest holding. Miller Howard Investments Inc. NY owned 0.45% of Interpublic Group of Companies worth $45,415,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IPG. Sentry Investment Management LLC bought a new position in shares of Interpublic Group of Companies in the first quarter worth about $31,000. OFI Invest Asset Management purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $36,000. Raiffeisen Bank International AG bought a new position in Interpublic Group of Companies in the 4th quarter worth approximately $42,000. FNY Investment Advisers LLC purchased a new stake in Interpublic Group of Companies during the 1st quarter valued at approximately $44,000. Finally, Grove Bank & Trust raised 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 valued at $59,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG traded down $0.15 during mid-day trading on Thursday, hitting $25.41. 2,474,609 shares of the company's stock traded hands, compared to its average volume of 6,987,063. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The company's 50-day moving average is $24.33 and its two-hundred day moving average is $26.05. The company has a market capitalization of $9.39 billion, a P/E ratio of 19.39 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The company's quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. On average, equities analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.33 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.32 annualized dividend and a yield of 5.20%. Interpublic Group of Companies's payout ratio is presently 100.76%.

Analyst Ratings Changes

A number of brokerages recently weighed in on IPG. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating for the company. Citigroup reiterated a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $34.00 to $27.50 in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of "Hold" and a consensus price target of $32.72.

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.