1,170,127 Shares in Interpublic Group of Companies, Inc. (The) $IPG Bought by Nuveen LLC

Key Points

• Nuveen LLC made a significant investment of approximately $31.78 million in Interpublic Group of Companies, acquiring 1,170,127 shares during the first quarter.
• Interpublic Group recently reported $0.75 EPS for the quarter, surpassing analysts' expectations and reflecting a 6.6% revenue decline compared to the previous year.
• The company declared a quarterly dividend of $0.33, which yields about 5.1% annually, but has a high dividend payout ratio of 111.86%.

Nuveen LLC acquired a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,170,127 shares of the business services provider's stock, valued at approximately $31,781,000. Nuveen LLC owned approximately 0.32% of Interpublic Group of Companies at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IPG. Berger Financial Group Inc grew its stake in shares of Interpublic Group of Companies by 26.0% during the first quarter. Berger Financial Group Inc now owns 197,251 shares of the business services provider's stock valued at $5,357,000 after purchasing an additional 40,667 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Interpublic Group of Companies by 48.4% during the first quarter. Benjamin Edwards Inc. now owns 191,868 shares of the business services provider's stock valued at $5,211,000 after purchasing an additional 62,610 shares during the last quarter. Covestor Ltd grew its stake in shares of Interpublic Group of Companies by 12.5% during the first quarter. Covestor Ltd now owns 9,469 shares of the business services provider's stock valued at $258,000 after purchasing an additional 1,054 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Interpublic Group of Companies during the first quarter valued at approximately $10,022,000. Finally, Wolverine Asset Management LLC grew its stake in shares of Interpublic Group of Companies by 90.3% during the first quarter. Wolverine Asset Management LLC now owns 42,629 shares of the business services provider's stock valued at $1,158,000 after purchasing an additional 20,230 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Trading Up 2.6%

Shares of NYSE IPG traded up $0.6810 during midday trading on Friday, reaching $27.2110. 2,737,894 shares of the stock were exchanged, compared to its average volume of 6,856,714. The business has a 50-day simple moving average of $24.91 and a two-hundred day simple moving average of $25.31. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 23.10 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

Wall Street Analyst Weigh In

Several research firms have recently commented on IPG. UBS Group decreased 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 research note on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price target on shares of 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 raised shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Finally, Barclays cut shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $32.39.

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.