Freestone Capital Holdings LLC lessened its holdings in Interpublic Group of Companies Inc (NYSE:IPG) by 23.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 762,272 shares of the business services provider’s stock after selling 238,684 shares during the period. Interpublic Group of Companies accounts for approximately 1.0% of Freestone Capital Holdings LLC’s portfolio, making the stock its 21st largest holding. Freestone Capital Holdings LLC owned approximately 0.20% of Interpublic Group of Companies worth $16,016,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Brand Asset Management Group Inc. boosted its position in shares of Interpublic Group of Companies by 106.6% in the 1st quarter. Brand Asset Management Group Inc. now owns 942 shares of the business services provider’s stock worth $51,000 after purchasing an additional 486 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $29,000. CWM LLC raised its holdings in Interpublic Group of Companies by 85.2% in the 4th quarter. CWM LLC now owns 1,880 shares of the business services provider’s stock worth $39,000 after acquiring an additional 865 shares during the last quarter. Bremer Trust National Association purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $40,000. Finally, Westside Investment Management Inc. purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $41,000. Institutional investors own 99.32% of the company’s stock.
In other news, Director David M. Thomas bought 8,650 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was bought at an average price of $23.12 per share, with a total value of $199,988.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.09% of the company’s stock.
Separately, ValuEngine upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.38.
IPG traded down $0.20 during mid-day trading on Friday, reaching $22.07. 1,918,614 shares of the company traded hands, compared to its average volume of 4,140,968. Interpublic Group of Companies Inc has a 52-week low of $19.61 and a 52-week high of $25.10. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.56. The firm has a market cap of $8.46 billion, a PE ratio of 11.87, a P/E/G ratio of 3.60 and a beta of 1.06.
Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Friday, April 26th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Interpublic Group of Companies had a net margin of 6.31% and a return on equity of 32.74%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts forecast that Interpublic Group of Companies Inc will post 1.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Friday, May 31st. Interpublic Group of Companies’s payout ratio is 50.54%.
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Interpublic Group of Companies Company Profile
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
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