33,000 Shares in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Purchased by Tabor Asset Management LP

Tabor Asset Management LP bought a new stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 33,000 shares of the business services provider's stock, valued at approximately $896,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its stake in shares of 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 last quarter. First Trust Advisors LP boosted its holdings in Interpublic Group of Companies by 13.0% during the 4th 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. Invesco Ltd. grew its stake in shares of Interpublic Group of Companies by 14.8% in the 4th quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider's stock worth $287,618,000 after acquiring an additional 1,320,345 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Interpublic Group of Companies by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider's stock valued at $266,614,000 after purchasing an additional 81,996 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Interpublic Group of Companies by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,422,468 shares of the business services provider's stock worth $207,974,000 after purchasing an additional 333,347 shares during the last quarter. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock traded down $0.17 during midday trading on Monday, reaching $24.01. The company's stock had a trading volume of 6,627,293 shares, compared to its average volume of 6,039,594. The firm has a market capitalization of $8.88 billion, a PE ratio of 8.79 and a beta of 1.05. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The stock's 50 day simple moving average is $24.28 and its 200 day simple moving average is $25.71. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The company's revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio is presently 100.76%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IPG shares. 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. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating on the stock. Barclays cut shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. cut their target price on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Interpublic Group of Companies currently has an average rating of "Hold" and a consensus price target of $32.06.

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.