Perpetual Ltd Buys 20,000 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Perpetual Ltd increased its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,333 shares of the business services provider’s stock after buying an additional 20,000 shares during the quarter. Perpetual Ltd owned 0.13% of Interpublic Group of Companies worth $16,429,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of IPG. HighTower Advisors LLC boosted its stake in shares of Interpublic Group of Companies by 3.6% in the 3rd quarter. HighTower Advisors LLC now owns 91,832 shares of the business services provider’s stock valued at $2,636,000 after purchasing an additional 3,233 shares in the last quarter. UBS Group AG boosted its position in Interpublic Group of Companies by 16.2% in the third quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock valued at $9,688,000 after buying an additional 47,184 shares in the last quarter. Kestra Advisory Services LLC boosted its position in Interpublic Group of Companies by 125.3% in the third quarter. Kestra Advisory Services LLC now owns 15,642 shares of the business services provider’s stock valued at $448,000 after buying an additional 8,698 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Interpublic Group of Companies by 11.1% during the third quarter. Rafferty Asset Management LLC now owns 28,675 shares of the business services provider’s stock worth $822,000 after buying an additional 2,862 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Interpublic Group of Companies during the third quarter worth approximately $679,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their target price on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average price target of $35.13.

Interpublic Group of Companies Trading Down 0.9 %

IPG opened at $29.31 on Friday. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $40.90. The stock has a market capitalization of $11.06 billion, a PE ratio of 10.43, a PEG ratio of 2.70 and a beta of 1.13. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $30.85 and a two-hundred day moving average price of $31.78.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business posted $0.38 earnings per share. Interpublic Group of Companies’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.50%. Interpublic Group of Companies’s payout ratio is currently 46.98%.

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.