Praxis Investment Management Inc. Invests $560,000 in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Praxis Investment Management Inc. acquired a new stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,630 shares of the business services provider's stock, valued at approximately $560,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in shares of Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after acquiring an additional 480 shares during the last quarter. Sentry Investment Management LLC purchased a new stake in Interpublic Group of Companies in the 1st quarter worth about $31,000. OFI Invest Asset Management bought a new stake in Interpublic Group of Companies in the fourth quarter worth about $36,000. Raiffeisen Bank International AG purchased a new position in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $42,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Interpublic Group of Companies during the first quarter valued at approximately $44,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 2.2%

NYSE IPG traded down $0.55 on Wednesday, reaching $24.14. 9,246,017 shares of the stock traded hands, compared to its average volume of 5,773,775. 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 market cap of $8.93 billion, a price-to-earnings ratio of 18.43 and a beta of 1.06. The company has a fifty day moving average price of $24.23 and a 200-day moving average price of $26.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07.

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

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.33 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.47%. Interpublic Group of Companies's dividend payout ratio is currently 100.76%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IPG shares. Wall Street Zen started coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating for the company. Citigroup reiterated a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Finally, Barclays lowered 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $32.72.

Interpublic Group of Companies 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.