New Vernon Capital Holdings II LLC Grows Position in Interpublic Group of Companies, Inc. (The) $IPG

New Vernon Capital Holdings II LLC increased its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 5,063.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,472 shares of the business services provider’s stock after purchasing an additional 219,144 shares during the period. New Vernon Capital Holdings II LLC owned 0.06% of Interpublic Group of Companies worth $6,069,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sentry Investment Management LLC purchased a new position in shares of Interpublic Group of Companies in the 1st quarter valued at $31,000. Raiffeisen Bank International AG bought a new stake in Interpublic Group of Companies during the fourth quarter valued at about $42,000. FNY Investment Advisers LLC purchased a new position in Interpublic Group of Companies in the first quarter valued at about $44,000. Grove Bank & Trust raised its holdings 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 purchasing an additional 2,000 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in Interpublic Group of Companies by 20.0% in the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock worth $64,000 after purchasing an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. JPMorgan Chase & Co. lowered 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 note on Thursday, July 10th. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Finally, UBS Group decreased their price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.01.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $26.82 on Friday. The firm has a market capitalization of $9.82 billion, a PE ratio of 22.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company’s fifty day moving average price is $25.54 and its 200-day moving average price is $25.26.

Interpublic Group of Companies (NYSE:IPG) last issued its 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 return on equity of 28.72% and a net margin of 4.27%.The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business posted $0.61 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, September 2nd. 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.