TIG Advisors LLC Lowers Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• TIG Advisors LLC sold 113,980 shares of Interpublic Group of Companies, decreasing its stake by 79.2% during the first quarter, leaving it with 30,000 shares valued at $815,000.
• The company reported an earnings per share (EPS) of $0.75 for the last quarter, exceeding expectations of $0.55, while revenues decreased by 6.6% year-over-year.
• Interpublic Group of Companies announced a quarterly dividend of $0.33 per share, representing a 4.9% dividend yield and a payout ratio of 111.86%.

TIG Advisors LLC trimmed its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 79.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,000 shares of the business services provider's stock after selling 113,980 shares during the period. TIG Advisors LLC's holdings in Interpublic Group of Companies were worth $815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of IPG. Sentry Investment Management LLC bought a new position in Interpublic Group of Companies during the first quarter valued at $31,000. Raiffeisen Bank International AG purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter worth $42,000. FNY Investment Advisers LLC purchased a new stake in shares of Interpublic Group of Companies during the first quarter worth $44,000. Grove Bank & Trust lifted its position in shares of Interpublic Group of Companies by 1,219.5% during the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock worth $64,000 after acquiring an additional 391 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Up 1.3%

Interpublic Group of Companies stock traded up $0.36 during trading hours on Thursday, hitting $26.82. 2,870,061 shares of the stock traded hands, compared to its average volume of 6,828,061. The firm's 50-day moving average price is $25.54 and its two-hundred day moving average price is $25.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The company has a market cap of $9.82 billion, a PE ratio of 22.72 and a beta of 1.09. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.20. The business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The business's revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. On average, research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's payout ratio is presently 111.86%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped 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 report on Thursday, July 10th. Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $34.00 to $27.50 in a research report on Wednesday, June 25th. Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Finally, UBS Group reduced their price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.