Praxis Investment Management Inc. Buys New Stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Praxis Investment Management Inc. bought a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 20,630 shares of the business services provider's stock, valued at approximately $560,000.

A number of other hedge funds also recently bought and sold shares of IPG. Allworth Financial LP increased its stake in shares of Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after purchasing an additional 480 shares during the period. Sentry Investment Management LLC bought a new position in Interpublic Group of Companies in the 1st quarter worth approximately $31,000. OFI Invest Asset Management acquired a new position in shares of Interpublic Group of Companies during the fourth quarter worth approximately $36,000. Raiffeisen Bank International AG bought a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at approximately $42,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Interpublic Group of Companies in the first quarter worth $44,000. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Up 1.3%

Shares of IPG opened at $23.39 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $24.25 and a two-hundred day moving average price of $26.32. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 17.85 and a beta of 1.06. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion during 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%. Interpublic Group of Companies's revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. Equities analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.64%. Interpublic Group of Companies's payout ratio is presently 100.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating for the company. Barclays cut their price objective on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Finally, Citigroup reissued 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of "Hold" and a consensus target price of $33.44.

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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