Sienna Gestion Sells 11,358 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Sienna Gestion reduced its holdings in Interpublic Group of Companies by 6.1%, now owning 174,009 shares worth approximately $4.59 million.
• Interpublic Group's latest reported earnings show an EPS of $0.75, exceeding expectations while experiencing a 6.6% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.33 per share, resulting in a 5.0% yield but reflecting a high dividend payout ratio of 111.86%.

Sienna Gestion lowered its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 6.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,009 shares of the business services provider's stock after selling 11,358 shares during the quarter. Sienna Gestion's holdings in Interpublic Group of Companies were worth $4,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Canada Pension Plan Investment Board grew its holdings in Interpublic Group of Companies by 139.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock worth $370,157,000 after purchasing an additional 7,693,636 shares during the period. Calamos Advisors LLC purchased a new stake in Interpublic Group of Companies in the first quarter worth about $46,172,000. First Trust Advisors LP grew its holdings in Interpublic Group of Companies by 13.0% in the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider's stock worth $363,584,000 after purchasing an additional 1,492,019 shares during the period. Millennium Management LLC grew its holdings in Interpublic Group of Companies by 797.5% in the fourth quarter. Millennium Management LLC now owns 1,463,120 shares of the business services provider's stock worth $40,997,000 after purchasing an additional 1,300,105 shares during the period. Finally, Deutsche Bank AG grew its holdings in Interpublic Group of Companies by 32.0% in the first quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider's stock worth $135,051,000 after purchasing an additional 1,206,542 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock traded up $0.25 during midday trading on Friday, reaching $26.10. 5,284,106 shares of the company traded hands, compared to its average volume of 6,285,047. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 22.12 and a beta of 1.05. The business has a 50 day moving average of $24.68 and a two-hundred day moving average of $25.35. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm'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 firm earned $0.61 earnings per share. As a group, research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors 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 yield of 5.1%. Interpublic Group of Companies's dividend payout ratio is 111.86%.

Analysts Set New Price Targets

A number of brokerages have weighed in on IPG. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a report on Saturday. UBS Group cut their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. 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 on the stock in a report on Thursday, July 10th. Finally, Barclays cut shares of 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 report on Wednesday, June 25th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of "Hold" and an average target price of $32.39.

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.