Seven Eight Capital LP Buys New Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Seven Eight Capital LP bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 72,087 shares of the business services provider’s stock, valued at approximately $2,352,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Interpublic Group of Companies by 12.1% during the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after acquiring an additional 1,516,975 shares during the last quarter. Norges Bank acquired a new position in shares of Interpublic Group of Companies during the 4th quarter valued at about $32,620,000. First Trust Advisors LP increased its stake in shares of Interpublic Group of Companies by 12.7% during the 4th quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after acquiring an additional 777,456 shares during the last quarter. KBC Group NV increased its stake in shares of Interpublic Group of Companies by 101.9% during the 4th quarter. KBC Group NV now owns 1,068,063 shares of the business services provider’s stock valued at $34,862,000 after acquiring an additional 538,935 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Interpublic Group of Companies by 1,439,200.0% during the 4th quarter. Gradient Investments LLC now owns 503,755 shares of the business services provider’s stock valued at $16,443,000 after acquiring an additional 503,720 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on IPG shares. Bank of America decreased their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company decreased their target price on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $34.00 to $28.00 in a report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.25.

Interpublic Group of Companies Stock Up 0.9 %

NYSE IPG traded up $0.27 on Tuesday, reaching $29.94. The company had a trading volume of 6,149,625 shares, compared to its average volume of 3,926,403. The firm has a market capitalization of $11.30 billion, a PE ratio of 10.63, a P/E/G ratio of 3.15 and a beta of 1.12. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $35.24. The firm has a 50-day moving average of $30.10 and a 200-day moving average of $31.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last released 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. Interpublic Group of Companies’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 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.