Forsta AP Fonden Increases Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Forsta AP Fonden increased its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,700 shares of the business services provider’s stock after purchasing an additional 8,400 shares during the quarter. Forsta AP Fonden’s holdings in Interpublic Group of Companies were worth $3,495,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Sentry Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth $31,000. Raiffeisen Bank International AG purchased a new position in Interpublic Group of Companies in the fourth quarter worth $42,000. FNY Investment Advisers LLC purchased a new position in Interpublic Group of Companies in the first quarter worth $44,000. Grove Bank & Trust grew its position in Interpublic Group of Companies by 1,219.5% in 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, GeoWealth Management LLC grew its position in Interpublic Group of Companies by 20.7% in the fourth 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 in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IPG has been the subject of several research reports. UBS Group cut their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a “hold” rating for the company. Barclays lowered shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Finally, Citigroup reiterated 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $32.39.

Interpublic Group of Companies Stock Up 0.3%

Shares of NYSE IPG opened at $24.98 on Tuesday. The firm’s fifty day moving average is $24.45 and its 200 day moving average is $25.41. 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 quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 21.17 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm earned $0.61 EPS. The company’s revenue was down 6.6% on a year-over-year basis. On average, equities research analysts expect 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. Investors of record on Tuesday, September 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 111.86%.

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.