Quarry LP Increases Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Quarry LP increased its holdings in Interpublic Group of Companies by 393.1% in Q1, acquiring an additional 254,917 shares to bring its total to 319,762 shares, making it the 5th largest position in its portfolio.
• Interpublic Group last reported a quarterly earnings per share of $0.75, surpassing analyst expectations of $0.55, despite a 6.6% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.33 per share, which translates to an annualized yield of 4.9%, with a payout ratio currently at 111.86%.

Quarry LP grew its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 393.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 319,762 shares of the business services provider's stock after buying an additional 254,917 shares during the period. Interpublic Group of Companies accounts for approximately 1.9% of Quarry LP's holdings, making the stock its 5th biggest position. Quarry LP owned 0.09% of Interpublic Group of Companies worth $8,685,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Nomura Holdings Inc. boosted its holdings in shares of Interpublic Group of Companies by 1,217.9% during the 1st quarter. Nomura Holdings Inc. now owns 161,756 shares of the business services provider's stock valued at $4,393,000 after buying an additional 149,482 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Interpublic Group of Companies by 11.9% during the 1st quarter. Baird Financial Group Inc. now owns 92,412 shares of the business services provider's stock valued at $2,510,000 after buying an additional 9,848 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of Interpublic Group of Companies by 14.2% during the 1st quarter. Vident Advisory LLC now owns 87,591 shares of the business services provider's stock valued at $2,379,000 after buying an additional 10,918 shares in the last quarter. Magnetar Financial LLC boosted its holdings in shares of Interpublic Group of Companies by 21.0% during the 1st quarter. Magnetar Financial LLC now owns 2,934,596 shares of the business services provider's stock valued at $79,704,000 after buying an additional 509,349 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Interpublic Group of Companies by 5.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider's stock worth $377,127,000 after purchasing an additional 674,938 shares during the last quarter. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $26.85 on Friday. The stock's fifty day moving average is $25.36 and its 200 day moving average is $25.26. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The firm has a market capitalization of $9.83 billion, a PE ratio of 22.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, 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 results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. Interpublic Group of Companies's quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.33 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IPG. JPMorgan Chase & Co. lowered their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. UBS Group decreased their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Interpublic Group of Companies has an average rating of "Hold" and a consensus target price of $32.39.

Interpublic Group of Companies Company 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.

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