Rhumbline Advisers Has $21.75 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Rhumbline Advisers boosted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 800,856 shares of the business services provider's stock after acquiring an additional 98,384 shares during the period. Rhumbline Advisers owned about 0.22% of Interpublic Group of Companies worth $21,751,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Interpublic Group of Companies by 18.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 327,086 shares of the business services provider's stock valued at $9,189,000 after purchasing an additional 51,051 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Interpublic Group of Companies by 8.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 83,853 shares of the business services provider's stock worth $2,350,000 after purchasing an additional 6,616 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Interpublic Group of Companies during the fourth quarter worth approximately $282,000. Vest Financial LLC raised its holdings in Interpublic Group of Companies by 31.5% during the fourth quarter. Vest Financial LLC now owns 1,205,662 shares of the business services provider's stock worth $33,783,000 after purchasing an additional 289,014 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in Interpublic Group of Companies during the fourth quarter worth approximately $9,041,000. Institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

IPG has been the topic of several recent analyst reports. Barclays dropped their target price on Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a "hold" rating on the stock. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Citigroup restated a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Finally, Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $33.44.

Interpublic Group of Companies Trading Up 1.8%

Interpublic Group of Companies stock traded up $0.41 during midday trading on Friday, reaching $23.07. The stock had a trading volume of 3,932,545 shares, compared to its average volume of 5,469,301. The firm's fifty day simple moving average is $24.42 and its two-hundred day simple moving average is $26.80. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 12.61 and a beta of 1.06.

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 (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business earned $0.36 EPS. Interpublic Group of Companies's quarterly revenue was down 6.9% compared to the same quarter last year. Equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend is Monday, June 2nd. Interpublic Group of Companies's payout ratio is presently 100.76%.

Interpublic Group of Companies declared that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $155.00 million in shares. This buyback authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.