Sentry Investment Management LLC Acquires New Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Sentry Investment Management LLC acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,139 shares of the business services provider’s stock, valued at approximately $31,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after purchasing an additional 480 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth about $36,000. Raiffeisen Bank International AG purchased a new position in shares of Interpublic Group of Companies during the 4th quarter worth about $42,000. GeoWealth Management LLC lifted its holdings in shares of Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after acquiring an additional 573 shares during the period. Finally, Parvin Asset Management LLC purchased a new position in shares of Interpublic Group of Companies during the 4th quarter worth about $102,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Up 1.8%

Shares of NYSE:IPG opened at $23.07 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The 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 50 day moving average of $24.42 and a two-hundred day moving average of $26.80. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 12.61 and a beta of 1.06.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data 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 6.45% and a return on equity of 27.10%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company earned $0.36 earnings per share. Interpublic Group of Companies’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date is Monday, June 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 100.76%.

Interpublic Group of Companies announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

IPG has been the topic of several recent analyst reports. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They set a “hold” rating on the stock. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Citigroup reiterated a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, Barclays cut their price objective on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.44.

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.