Interpublic Group of Companies, Inc. (The) $IPG Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Interpublic Group of Companies, Inc. by 24.6%, owning approximately 393,693 shares valued at about $10.5 million as per its latest SEC filing.
• Interpublic Group reported $0.75 earnings per share for the last quarter, surpassing the consensus estimate of $0.55, while revenues totaled $2.17 billion, slightly exceeding expectations.
• The company announced a quarterly dividend of $0.33, yielding 5.1%, with a payout ratio currently standing at 111.86%, indicating a significant return to its investors.

Russell Investments Group Ltd. boosted its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 24.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 393,693 shares of the business services provider's stock after buying an additional 77,828 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Interpublic Group of Companies worth $10,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. lifted its holdings in Interpublic Group of Companies by 4.0% during the first quarter. Resona Asset Management Co. Ltd. now owns 121,580 shares of the business services provider's stock valued at $3,286,000 after purchasing an additional 4,659 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Interpublic Group of Companies by 8.0% during the first quarter. Public Sector Pension Investment Board now owns 57,809 shares of the business services provider's stock valued at $1,570,000 after purchasing an additional 4,294 shares in the last quarter. Todd Asset Management LLC purchased a new position in Interpublic Group of Companies during the first quarter valued at $25,107,000. CCM Investment Group LLC purchased a new position in Interpublic Group of Companies during the first quarter valued at $907,000. Finally, Nuveen LLC purchased a new position in Interpublic Group of Companies during the first quarter valued at $31,781,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Trading Up 2.6%

Interpublic Group of Companies stock traded up $0.6960 during midday trading on Friday, hitting $27.2260. 9,881,041 shares of the stock were exchanged, compared to its average volume of 5,458,931. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 23.07 and a beta of 1.05. The stock's 50-day simple moving average is $25.00 and its 200 day simple moving average is $25.26. 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 announced its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating 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 business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same period last year, the business earned $0.61 earnings per share. The business's revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.8%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

Analysts Set New Price Targets

IPG has been the topic of several recent analyst reports. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. UBS Group decreased their price target on shares of 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 downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.