Wolverine Asset Management LLC Grows Stock Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Wolverine Asset Management LLC increased its position in Interpublic Group of Companies by 90.3% in the first quarter, owning 42,629 shares valued at approximately $1.16 million.
• Interpublic Group reported an EPS of $0.75 for the last quarter, exceeding expectations of $0.55, with revenues of $2.17 billion.
• The company announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 5.3%, with a payout ratio of 111.86%.

Wolverine Asset Management LLC lifted its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 90.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,629 shares of the business services provider's stock after buying an additional 20,230 shares during the period. Wolverine Asset Management LLC's holdings in Interpublic Group of Companies were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in shares of Interpublic Group of Companies during the first quarter valued at about $1,480,000. Asset Management One Co. Ltd. grew its position in Interpublic Group of Companies by 2.4% in the first quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider's stock worth $4,178,000 after acquiring an additional 3,547 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Interpublic Group of Companies by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider's stock valued at $1,185,000 after buying an additional 1,170 shares during the period. LPL Financial LLC boosted its position in shares of Interpublic Group of Companies by 7.5% during the first quarter. LPL Financial LLC now owns 500,207 shares of the business services provider's stock valued at $13,586,000 after buying an additional 34,753 shares during the period. Finally, NBC Securities Inc. boosted its position in shares of Interpublic Group of Companies by 106,420.0% during the first quarter. NBC Securities Inc. now owns 5,326 shares of the business services provider's stock valued at $144,000 after buying an additional 5,321 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

Shares of IPG stock traded down $0.34 during mid-day trading on Thursday, hitting $25.87. 1,925,076 shares of the stock were exchanged, compared to its average volume of 6,937,548. The firm has a fifty day moving average of $24.56 and a 200 day moving average of $25.42. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. 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 market cap of $9.47 billion, a PE ratio of 21.93 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. Interpublic Group of Companies's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is 111.86%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports 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. JPMorgan Chase & Co. lowered their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. UBS Group lowered their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Finally, Barclays lowered 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 report on Wednesday, June 25th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of "Hold" and a consensus target price 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.