Steel Grove Capital Advisors LLC Has $1.74 Million Stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Steel Grove Capital Advisors LLC raised its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 444.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,002 shares of the business services provider's stock after purchasing an additional 52,254 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in Interpublic Group of Companies were worth $1,738,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IPG. Canada Pension Plan Investment Board raised its position in shares of Interpublic Group of Companies by 139.5% during 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 acquiring an additional 7,693,636 shares during the last quarter. Amundi raised its position in shares of Interpublic Group of Companies by 133.6% during the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider's stock worth $150,393,000 after acquiring an additional 3,089,387 shares during the last quarter. Magnetar Financial LLC raised its position in shares of Interpublic Group of Companies by 12,548.6% during the fourth quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider's stock worth $67,955,000 after acquiring an additional 2,406,073 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Interpublic Group of Companies during the fourth quarter worth $51,794,000. Finally, First Trust Advisors LP raised its position in shares of Interpublic Group of Companies by 13.0% during 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 acquiring an additional 1,492,019 shares during the last quarter. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Trading Up 1.3%

NYSE:IPG traded up $0.31 on Friday, reaching $23.39. The company's stock had a trading volume of 17,282,197 shares, compared to its average volume of 5,669,131. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $8.65 billion, a PE ratio of 17.85 and a beta of 1.06. The business's 50-day moving average price is $24.25 and its two-hundred day moving average price is $26.32.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The company's revenue was down 6.9% on a year-over-year basis. Equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.64%. Interpublic Group of Companies's payout ratio is 100.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating for the company. Barclays decreased their price objective on Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $33.44.

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.