Steel Grove Capital Advisors LLC Raises Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Steel Grove Capital Advisors LLC increased its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 444.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,002 shares of the business services provider's stock after buying an additional 52,254 shares during the period. Steel Grove Capital Advisors LLC's holdings in Interpublic Group of Companies were worth $1,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of IPG. Asset Management One Co. Ltd. lifted its holdings in shares of Interpublic Group of Companies by 0.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 150,283 shares of the business services provider's stock valued at $4,224,000 after purchasing an additional 1,332 shares during the last quarter. Principal Securities Inc. increased its position in Interpublic Group of Companies by 37.8% during the 4th quarter. Principal Securities Inc. now owns 8,034 shares of the business services provider's stock valued at $225,000 after buying an additional 2,203 shares in the last quarter. Allworth Financial LP raised its stake in Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after buying an additional 480 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Interpublic Group of Companies by 1.7% in the fourth quarter. CIBC Asset Management Inc now owns 65,251 shares of the business services provider's stock worth $1,828,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Kestra Investment Management LLC grew its stake in shares of Interpublic Group of Companies by 64.9% during the fourth quarter. Kestra Investment Management LLC now owns 18,562 shares of the business services provider's stock worth $520,000 after acquiring an additional 7,304 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Analysts Set New Price Targets

IPG has been the topic of several research reports. Citigroup reiterated a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating on the stock. Finally, Barclays reduced their target price on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Interpublic Group of Companies has an average rating of "Hold" and an average target price of $33.44.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $23.09 on Thursday. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 17.63 and a beta of 1.06. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $24.29 and a 200 day moving average price of $26.43.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Interpublic Group of Companies's revenue for the quarter was down 6.9% on a year-over-year basis. Research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio is presently 100.76%.

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.

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