The Interpublic Group of Companies, Inc. Announces Quarterly Dividend of $0.31 (NYSE:IPG)

Posted by on Aug 1st, 2023

The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Free Report) announced a quarterly dividend on Monday, July 31st, RTT News reports. Stockholders of record on Friday, September 1st will be given a dividend of 0.31 per share by the business services provider on Friday, September 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.62%.

Interpublic Group of Companies has raised its dividend by an average of 7.3% per year over the last three years and has raised its dividend every year for the last 11 years. Interpublic Group of Companies has a dividend payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Interpublic Group of Companies to earn $3.07 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 40.4%.

Interpublic Group of Companies Stock Up 2.8 %

IPG stock opened at $34.23 on Tuesday. Interpublic Group of Companies has a one year low of $25.14 and a one year high of $40.95. The stock has a market capitalization of $13.18 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average of $38.04 and a 200-day moving average of $36.95.

Interpublic Group of Companies (NYSE:IPG – Get Free Report) last announced its quarterly earnings results on Friday, July 21st. The business services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. Interpublic Group of Companies had a net margin of 8.70% and a return on equity of 29.72%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts expect that Interpublic Group of Companies will post 2.98 EPS for the current year.

Hedge Funds Weigh In On Interpublic Group of Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Interpublic Group of Companies by 14.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,035 shares of the business services provider’s stock worth $817,000 after purchasing an additional 2,915 shares during the period. Cetera Advisor Networks LLC acquired a new stake in Interpublic Group of Companies in the 1st quarter valued at about $243,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Interpublic Group of Companies in the 1st quarter valued at about $133,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Interpublic Group of Companies by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,667 shares of the business services provider’s stock valued at $1,867,000 after acquiring an additional 3,244 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in Interpublic Group of Companies by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 63,184 shares of the business services provider’s stock worth $2,240,000 after buying an additional 595 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the topic of several research analyst reports. StockNews.com cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $43.00 to $33.00 in a research report on Monday, July 24th. Citigroup reduced their target price on shares of Interpublic Group of Companies from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. Barclays reduced their target price on shares of Interpublic Group of Companies from $42.00 to $40.00 in a research report on Friday, April 28th. Finally, Morgan Stanley reduced their target price on shares of Interpublic Group of Companies from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $39.00.

About Interpublic Group of Companies

(Get 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.

See Also

Dividend History for Interpublic Group of Companies (NYSE:IPG)

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