Summit Financial LLC Makes New $287,000 Investment in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Summit Financial LLC has acquired a new stake in Interpublic Group of Companies, purchasing 10,580 shares valued at approximately $287,000 in the first quarter.
• Interpublic's latest earnings report showed $0.75 earnings per share, exceeding analysts' expectations of $0.55, although revenue for the quarter declined by 6.6% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, providing an annual yield of 4.9%, with the ex-dividend date set for September 2nd.

Summit Financial LLC purchased a new stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,580 shares of the business services provider's stock, valued at approximately $287,000.

Several other large investors have also recently bought and sold shares of IPG. Charles Schwab Investment Management Inc. grew its position in shares of Interpublic Group of Companies by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider's stock worth $374,304,000 after purchasing an additional 842,925 shares in the last quarter. Northern Trust Corp boosted its position in shares of Interpublic Group of Companies by 24.3% during the 4th quarter. Northern Trust Corp now owns 5,239,927 shares of the business services provider's stock worth $146,823,000 after acquiring an additional 1,025,589 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Interpublic Group of Companies by 32.0% during the 1st quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider's stock worth $135,051,000 after acquiring an additional 1,206,542 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Interpublic Group of Companies by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,670,228 shares of the business services provider's stock worth $130,860,000 after acquiring an additional 267,879 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Interpublic Group of Companies by 13.7% during the 4th quarter. Voloridge Investment Management LLC now owns 2,445,498 shares of the business services provider's stock worth $68,523,000 after acquiring an additional 294,400 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Up 0.6%

NYSE IPG traded up $0.16 during mid-day trading on Friday, reaching $26.85. 2,410,150 shares of the stock were exchanged, compared to its average volume of 5,566,417. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The stock has a 50 day simple moving average of $25.36 and a 200-day simple moving average of $25.26. The stock has a market cap of $9.83 billion, a P/E ratio of 22.75 and a beta of 1.05. 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 announced its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping 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 the consensus estimate of $2.15 billion. During the same quarter last year, the firm earned $0.61 earnings per share. Interpublic Group of Companies's quarterly revenue was down 6.6% on a year-over-year basis. On average, analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group reduced 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 report on Wednesday, July 23rd. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies currently has an average rating of "Hold" and an average price target of $32.39.

About Interpublic Group of Companies

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.