RWC Asset Management LLP Boosts Stock Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• RWC Asset Management LLP significantly increased its holdings in Interpublic Group of Companies by 573.2%, purchasing an additional 66,941 shares, bringing its total to 78,619 shares valued at approximately $2.14 million.
• Interpublic Group recently reported a $0.75 earnings per share for the quarter, surpassing analysts' expectations of $0.55, despite year-over-year revenue declining by 6.6%.
• The company declared a quarterly dividend of $0.33 per share, which reflects an annualized payout of $1.32 and a dividend yield of 5.07%, though it has a high payout ratio of 111.86%.

RWC Asset Management LLP increased its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 573.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,619 shares of the business services provider's stock after buying an additional 66,941 shares during the period. RWC Asset Management LLP's holdings in Interpublic Group of Companies were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IPG. LPL Financial LLC grew its holdings in Interpublic Group of Companies by 0.9% during the fourth quarter. LPL Financial LLC now owns 465,454 shares of the business services provider's stock worth $13,042,000 after purchasing an additional 4,177 shares during the period. Korea Investment CORP lifted its holdings in shares of Interpublic Group of Companies by 7.7% during the fourth quarter. Korea Investment CORP now owns 139,760 shares of the business services provider's stock worth $3,916,000 after purchasing an additional 10,000 shares during the period. UniSuper Management Pty Ltd grew its position in shares of Interpublic Group of Companies by 23.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 67,003 shares of the business services provider's stock worth $1,877,000 after buying an additional 12,891 shares during the period. NEOS Investment Management LLC grew its position in Interpublic Group of Companies by 30.5% in the 4th quarter. NEOS Investment Management LLC now owns 21,304 shares of the business services provider's stock valued at $597,000 after purchasing an additional 4,974 shares during the period. Finally, Norges Bank bought a new stake in Interpublic Group of Companies during the fourth quarter worth $17,884,000. 98.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Citigroup restated a "buy" rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Finally, UBS Group lowered their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $32.39.

Interpublic Group of Companies Stock Performance

IPG stock traded down $0.14 on Tuesday, hitting $25.38. The company had a trading volume of 6,905,144 shares, compared to its average volume of 7,338,622. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 8.83 and a beta of 1.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock's 50-day simple moving average is $24.32 and its 200 day simple moving average is $25.63. 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 quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%. Interpublic Group of Companies's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, equities research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.20%. Interpublic Group of Companies's payout ratio is presently 111.86%.

Interpublic Group of Companies 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.