DekaBank Deutsche Girozentrale Buys 32,371 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by Defense World Staff on Jul 9th, 2023

DekaBank Deutsche Girozentrale grew its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 807,939 shares of the business services provider’s stock after acquiring an additional 32,371 shares during the period. DekaBank Deutsche Girozentrale owned about 0.21% of Interpublic Group of Companies worth $29,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IPG. Spire Wealth Management raised its position in Interpublic Group of Companies by 29.7% in the 4th quarter. Spire Wealth Management now owns 1,153 shares of the business services provider’s stock worth $38,000 after purchasing an additional 264 shares during the period. Czech National Bank raised its position in Interpublic Group of Companies by 0.6% in the 1st quarter. Czech National Bank now owns 45,750 shares of the business services provider’s stock worth $1,704,000 after purchasing an additional 266 shares during the period. ETF Managers Group LLC raised its position in Interpublic Group of Companies by 1.5% in the 1st quarter. ETF Managers Group LLC now owns 20,762 shares of the business services provider’s stock worth $773,000 after purchasing an additional 309 shares during the period. Rockefeller Capital Management L.P. raised its position in Interpublic Group of Companies by 22.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,734 shares of the business services provider’s stock worth $56,000 after purchasing an additional 315 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Interpublic Group of Companies by 2.8% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,732 shares of the business services provider’s stock worth $391,000 after purchasing an additional 320 shares during the period. 98.45% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Down 0.3 %

Shares of IPG opened at $37.94 on Friday. The firm’s 50-day moving average price is $38.03 and its 200-day moving average price is $36.69. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.59 and a beta of 1.11. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79. The Interpublic Group of Companies, Inc. has a 1-year low of $25.14 and a 1-year high of $40.95.

Interpublic Group of Companies (NYSE:IPG – Free Report) last posted its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.31 by $0.07. Interpublic Group of Companies had a net margin of 8.31% and a return on equity of 29.28%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Interpublic Group of Companies’s quarterly revenue was down 1.8% on a year-over-year basis. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.95 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.27%. The ex-dividend date was Monday, June 5th. Interpublic Group of Companies’s payout ratio is currently 53.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IPG. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Monday, June 19th. Bank of America raised their price target on shares of Interpublic Group of Companies from $40.00 to $44.00 in a report on Sunday, July 2nd. Barclays cut their price target on shares of Interpublic Group of Companies from $42.00 to $40.00 in a report on Friday, April 28th. Finally, BNP Paribas lowered shares of Interpublic Group of Companies from an “outperform” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Wednesday, March 29th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

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.