Royal Bank of Canada Has $88.32 Million Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Royal Bank of Canada reduced its stake in Interpublic Group of Companies by 2.6% during the first quarter, now holding 3,251,628 shares worth $88.3 million.
• Interpublic's latest earnings report revealed a $0.75 EPS, surpassing analysts' expectations, although revenues declined by 6.6% year-over-year.
• The company declared a quarterly dividend of $0.33 per share, with a yield of 5.0%, despite a payout ratio exceeding 111%.

Royal Bank of Canada lessened its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,251,628 shares of the business services provider's stock after selling 85,813 shares during the period. Royal Bank of Canada owned about 0.88% of Interpublic Group of Companies worth $88,315,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IPG. Canada Pension Plan Investment Board lifted its stake in Interpublic Group of Companies by 5.1% in the first quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider's stock valued at $377,127,000 after buying an additional 674,938 shares during the period. Charles Schwab Investment Management Inc. grew its position in Interpublic Group of Companies by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider's stock worth $374,304,000 after acquiring an additional 842,925 shares during the last quarter. Deutsche Bank AG grew its position in shares of Interpublic Group of Companies by 32.0% in the 1st quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider's stock worth $135,051,000 after buying an additional 1,206,542 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Interpublic Group of Companies by 6.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,670,228 shares of the business services provider's stock valued at $130,860,000 after purchasing an additional 267,879 shares during the period. Finally, Magnetar Financial LLC lifted its stake in shares of Interpublic Group of Companies by 21.0% in 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 purchasing an additional 509,349 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IPG shares. JPMorgan Chase & Co. cut their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. UBS Group cut their target price on 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. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $32.01.

Interpublic Group of Companies Price Performance

Shares of IPG stock traded down $0.32 during trading hours on Tuesday, hitting $26.69. The company's stock had a trading volume of 1,286,156 shares, compared to its average volume of 6,770,008. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 22.61 and a beta of 1.09. The business has a fifty day moving average of $25.65 and a 200-day moving average of $25.23. 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 current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The firm's revenue was down 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.33 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 4.9%. Interpublic Group of Companies's dividend payout ratio is 111.86%.

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.