Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Shares Sold by XTX Topco Ltd

Key Points

• XTX Topco Ltd reduced its stake in Interpublic Group of Companies by 62.4%, selling 37,727 shares during the first quarter, resulting in holdings worth $618,000.
• Interpublic Group reported $0.75 EPS for the recent quarter, exceeding estimates and showing a 6.6% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.33 per share, resulting in an annual yield of 5.3%, despite a dividend payout ratio of 111.86%.

XTX Topco Ltd reduced its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 62.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,755 shares of the business services provider's stock after selling 37,727 shares during the quarter. XTX Topco Ltd's holdings in Interpublic Group of Companies were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IPG. Canada Pension Plan Investment Board increased its holdings 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 valued at $370,157,000 after purchasing an additional 7,693,636 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Interpublic Group of Companies in the 4th quarter valued at $51,794,000. Calamos Advisors LLC acquired a new stake in shares of Interpublic Group of Companies in the 1st quarter worth $46,172,000. First Trust Advisors LP raised its holdings in shares of 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 period. Finally, Invesco Ltd. grew its holdings in shares of Interpublic Group of Companies by 14.8% in the fourth quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider's stock valued at $287,618,000 after purchasing an additional 1,320,345 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Trading Up 0.8%

Interpublic Group of Companies stock traded up $0.21 during midday trading on Wednesday, reaching $24.95. 4,602,261 shares of the stock traded hands, compared to its average volume of 7,229,120. 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 firm has a market cap of $9.14 billion, a PE ratio of 21.14 and a beta of 1.05. The company has a 50-day simple moving average of $24.37 and a two-hundred day simple moving average of $25.52. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The business's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. Research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business 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 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's payout ratio is presently 111.86%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IPG shares. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. UBS Group cut their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price target 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. Barclays downgraded 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 research report on Wednesday, June 25th. Finally, Citigroup reaffirmed a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $32.39.

Interpublic Group of Companies Company 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.