Ossiam Grows Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by on Sep 10th, 2023

Ossiam lifted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 103,733 shares of the business services provider’s stock after acquiring an additional 3,599 shares during the quarter. Ossiam’s holdings in Interpublic Group of Companies were worth $3,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. XTX Topco Ltd bought a new position in Interpublic Group of Companies in the first quarter worth approximately $412,000. Cresset Asset Management LLC bought a new position in shares of Interpublic Group of Companies during the 1st quarter worth $270,000. State of Tennessee Treasury Department increased its stake in shares of Interpublic Group of Companies by 3.4% during the first quarter. State of Tennessee Treasury Department now owns 60,760 shares of the business services provider’s stock valued at $2,263,000 after buying an additional 1,994 shares during the period. Stifel Financial Corp increased its stake in shares of Interpublic Group of Companies by 52.2% during the first quarter. Stifel Financial Corp now owns 235,593 shares of the business services provider’s stock valued at $8,774,000 after buying an additional 80,832 shares during the period. Finally, Kinloch Capital LLC raised its holdings in shares of Interpublic Group of Companies by 18.8% in the first quarter. Kinloch Capital LLC now owns 8,248 shares of the business services provider’s stock valued at $307,000 after acquiring an additional 1,308 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $31.75 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.78. The firm has a market cap of $12.22 billion, a PE ratio of 13.17, a P/E/G ratio of 1.50 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 12 month low of $25.14 and a 12 month high of $40.95. The stock has a fifty day moving average price of $34.50 and a 200-day moving average price of $36.10.

Interpublic Group of Companies (NYSE:IPG – Get Free Report) last released its quarterly earnings results on Friday, July 21st. The business services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Interpublic Group of Companies had a return on equity of 29.72% and a net margin of 8.70%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 3.05 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, August 31st. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 51.45%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley cut 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. StockNews.com began coverage on shares of Interpublic Group of Companies in a research note on Wednesday, August 23rd. They issued a “hold” rating for the company. Wells Fargo & Company cut Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $43.00 to $33.00 in a research report on Monday, July 24th. Bank of America reduced their price target on Interpublic Group of Companies from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, July 24th. Finally, Citigroup dropped their price objective on 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Read Our Latest Research Report on IPG

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.

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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