Czech National Bank Acquires 266 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by Defense World Staff on Jun 30th, 2023

Czech National Bank grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,750 shares of the business services provider’s stock after acquiring an additional 266 shares during the quarter. Czech National Bank’s holdings in Interpublic Group of Companies were worth $1,704,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. City Holding Co. lifted its position in shares of Interpublic Group of Companies by 16.1% in the 1st quarter. City Holding Co. now owns 43,015 shares of the business services provider’s stock worth $1,601,000 after acquiring an additional 5,960 shares during the period. Signet Financial Management LLC lifted its position in shares of Interpublic Group of Companies by 1.7% in the 1st quarter. Signet Financial Management LLC now owns 25,560 shares of the business services provider’s stock worth $952,000 after acquiring an additional 437 shares during the period. Transform Wealth LLC lifted its position in shares of Interpublic Group of Companies by 0.7% in the 1st quarter. Transform Wealth LLC now owns 90,910 shares of the business services provider’s stock worth $3,385,000 after acquiring an additional 658 shares during the period. Raymond James & Associates lifted its position in shares of Interpublic Group of Companies by 4.2% in the 1st quarter. Raymond James & Associates now owns 1,533,716 shares of the business services provider’s stock worth $57,116,000 after acquiring an additional 62,047 shares during the period. Finally, HB Wealth Management LLC bought a new stake in shares of Interpublic Group of Companies in the 1st quarter worth approximately $232,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IPG shares. Barclays cut their target price on Interpublic Group of Companies from $42.00 to $40.00 in a research report on Friday, April 28th. BNP Paribas downgraded Interpublic Group of Companies from an “outperform” rating to a “neutral” rating and set a $40.00 target price for the company. in a research report on Wednesday, March 29th. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Monday, June 19th. Finally, Bank of America upgraded Interpublic Group of Companies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $38.00 to $40.00 in a research report on Thursday, March 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Interpublic Group of Companies Trading Down 1.9 %

IPG stock opened at $38.09 on Friday. The business has a fifty day moving average price of $37.80 and a 200 day moving average price of $36.43. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.14 and a fifty-two week high of $40.95. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.03 and a quick ratio of 1.03.

Interpublic Group of Companies (NYSE:IPG – Free Report) last released its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Interpublic Group of Companies had a return on equity of 29.28% and a net margin of 8.31%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. Analysts expect that The Interpublic Group of Companies, Inc. will post 2.95 EPS 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 20th. Stockholders of record on Tuesday, June 6th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.26%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 53.68%.

About Interpublic Group of Companies

(Free Report)

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.