The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Bought by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp lifted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 305.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,129 shares of the business services provider’s stock after buying an additional 40,785 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Interpublic Group of Companies were worth $1,766,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IPG. UBS Group AG lifted its position in shares of Interpublic Group of Companies by 16.2% during the 3rd quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock worth $9,688,000 after buying an additional 47,184 shares during the last quarter. Kestra Advisory Services LLC raised its position in Interpublic Group of Companies by 125.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 15,642 shares of the business services provider’s stock valued at $448,000 after purchasing an additional 8,698 shares during the last quarter. Rafferty Asset Management LLC raised its position in Interpublic Group of Companies by 11.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 28,675 shares of the business services provider’s stock valued at $822,000 after purchasing an additional 2,862 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Interpublic Group of Companies in the 3rd quarter valued at $679,000. Finally, V Square Quantitative Management LLC raised its position in Interpublic Group of Companies by 243.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 8,676 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 6,148 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $29.31 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $40.90. The stock has a market cap of $11.06 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 2.70 and a beta of 1.13. The firm’s fifty day simple moving average is $30.85 and its 200-day simple moving average is $31.78.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Analysts expect that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

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

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.