Mirae Asset Global Investments Co. Ltd. Buys 28,957 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Interpublic Group by 8.1% in the second quarter, acquiring an additional 28,957 shares, bringing its total ownership to 386,331 shares valued at approximately $9.46 million.
• Interpublic Group reported $0.75 earnings per share for the last quarter, surpassing analysts' expectations of $0.55, despite a 6.6% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.33 per share, resulting in an annualized yield of 5.0%, though its dividend payout ratio is significantly high at 111.86%.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 386,331 shares of the business services provider's stock after purchasing an additional 28,957 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Interpublic Group of Companies worth $9,457,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in Interpublic Group of Companies during the first quarter valued at about $44,000. Grove Bank & Trust increased 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 purchasing an additional 2,000 shares during the period. Brooklyn Investment Group increased its position in shares of 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 period. Ancora Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the first quarter valued at $102,000. Finally, Richardson Financial Services Inc. lifted its position in Interpublic Group of Companies by 18.7% in the first quarter. Richardson Financial Services Inc. now owns 4,136 shares of the business services provider's stock worth $112,000 after purchasing an additional 651 shares during the period. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $26.51 on Monday. The stock has a market capitalization of $9.71 billion, a P/E ratio of 22.46 and a beta of 1.09. 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, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The firm has a 50 day moving average of $26.11 and a 200-day moving average of $25.14.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating 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 firm had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same period last year, the firm posted $0.61 EPS. The business's revenue was down 6.6% on a year-over-year basis. As a group, sell-side 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 Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 5.0%. Interpublic Group of Companies's dividend payout ratio is 111.86%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lowered their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Barclays cut shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Weiss Ratings restated a "hold (c)" rating on shares of Interpublic Group of Companies in a research note on Saturday, September 27th. JPMorgan Chase & Co. decreased their price objective on 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, Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of "Hold" and an average price target 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.

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