Grove Bank & Trust Grows Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Grove Bank & Trust raised its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 1,219.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,164 shares of the business services provider’s stock after buying an additional 2,000 shares during the period. Grove Bank & Trust’s holdings in Interpublic Group of Companies were worth $59,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of Interpublic Group of Companies by 3.0% in the fourth quarter. Assetmark Inc. now owns 42,496 shares of the business services provider’s stock valued at $1,191,000 after acquiring an additional 1,238 shares in the last quarter. Jones Financial Companies Lllp grew its stake in 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 valued at $204,000 after purchasing an additional 2,991 shares during the period. Proficio Capital Partners LLC bought a new position in Interpublic Group of Companies in the 4th quarter valued at $2,325,000. Allworth Financial LP increased its position in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Interpublic Group of Companies by 0.9% during 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 period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 0.3%

IPG opened at $23.09 on Thursday. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The company has a market cap of $8.54 billion, a PE ratio of 17.63 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $24.29 and a 200 day moving average of $26.43.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. On average, sell-side analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 100.76%.

Analyst Ratings Changes

Several research firms recently weighed in on IPG. Barclays reduced their price target 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. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a “hold” rating for the company. Finally, Citigroup reaffirmed a “buy” rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.44.

Interpublic Group of Companies Profile

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.