US Bancorp DE lessened its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 9.5% during the 1st quarter, HoldingsChannel reports. The fund owned 29,185 shares of the business services provider’s stock after selling 3,067 shares during the period. US Bancorp DE’s holdings in Interpublic Group of Companies were worth $613,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brand Asset Management Group Inc. raised its holdings in Interpublic Group of Companies by 106.6% during the first quarter. Brand Asset Management Group Inc. now owns 942 shares of the business services provider’s stock worth $51,000 after acquiring an additional 486 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in Interpublic Group of Companies during the fourth quarter worth about $29,000. Bremer Trust National Association bought a new stake in Interpublic Group of Companies during the fourth quarter worth about $40,000. Westside Investment Management Inc. bought a new stake in Interpublic Group of Companies during the fourth quarter worth about $41,000. Finally, NuWave Investment Management LLC raised its holdings in Interpublic Group of Companies by 1,506.2% during the first quarter. NuWave Investment Management LLC now owns 2,088 shares of the business services provider’s stock worth $44,000 after acquiring an additional 1,958 shares in the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.
Several research firms recently issued reports on IPG. ValuEngine lowered Interpublic Group of Companies from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Zacks Investment Research raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Interpublic Group of Companies has a consensus rating of “Buy” and a consensus price target of $25.38.
Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Friday, April 26th. The business services provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.95 billion. Interpublic Group of Companies had a return on equity of 32.74% and a net margin of 6.31%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. As a group, research analysts anticipate that Interpublic Group of Companies Inc will post 1.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Friday, May 31st. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 50.54%.
In other Interpublic Group of Companies news, Director Jocelyn Carter-Miller sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $22.46, for a total transaction of $130,268.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David M. Thomas purchased 8,650 shares of the stock in a transaction on Tuesday, April 30th. The shares were acquired at an average cost of $23.12 per share, for a total transaction of $199,988.00. The disclosure for this purchase can be found here. 1.09% of the stock is owned by insiders.
Interpublic Group of Companies Profile
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
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