Palouse Capital Management Inc. Has $1.49 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Palouse Capital Management Inc. lifted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.1% during the 1st quarter, Holdings Channel reports. The fund owned 54,763 shares of the business services provider’s stock after acquiring an additional 574 shares during the quarter. Palouse Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $1,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Interpublic Group of Companies by 3.0% in the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider’s stock worth $1,191,000 after acquiring an additional 1,238 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Interpublic Group of Companies by 69.5% in the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider’s stock worth $204,000 after acquiring an additional 2,991 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Interpublic Group of Companies in the 4th quarter worth approximately $2,325,000. Allworth Financial LP raised its position in Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after purchasing an additional 480 shares during the last quarter. Finally, LPL Financial LLC raised its position in Interpublic Group of Companies by 0.9% in the 4th quarter. LPL Financial LLC now owns 465,454 shares of the business services provider’s stock worth $13,042,000 after purchasing an additional 4,177 shares during the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IPG has been the subject of several recent research reports. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a “hold” rating for the company. Citigroup reiterated a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Barclays dropped their target price on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Finally, Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $33.44.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $22.97 on Friday. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The firm has a market cap of $8.49 billion, a PE ratio of 12.55 and a beta of 1.06. The company has a fifty day moving average price of $24.35 and a 200 day moving average price of $26.58. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. Research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.75%. Interpublic Group of Companies’s dividend payout ratio is currently 100.76%.

About Interpublic Group of Companies

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.