Interpublic Group of Companies (NYSE:IPG) Sees Unusually-High Trading Volume – Here’s Why

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) shares saw unusually-high trading volume on Monday . Approximately 10,965,451 shares changed hands during trading, an increase of 93% from the previous session’s volume of 5,696,232 shares.The stock last traded at $24.04 and had previously closed at $23.42.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IPG. Barclays cut their price target on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Citigroup reiterated a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Finally, Wall Street Zen started coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.44.

Interpublic Group of Companies Stock Performance

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 market capitalization of $8.97 billion, a P/E ratio of 18.52 and a beta of 1.06. The company’s 50 day moving average is $24.25 and its 200-day moving average is $26.29.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Equities analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.44%. Interpublic Group of Companies’s dividend payout ratio is presently 100.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. lifted its stake in 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 worth $1,191,000 after purchasing an additional 1,238 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Interpublic Group of Companies by 69.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider’s stock valued at $204,000 after buying an additional 2,991 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Interpublic Group of Companies in the 4th quarter valued at about $2,325,000. Allworth Financial LP grew its stake 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 acquiring an additional 480 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Interpublic Group of Companies by 0.9% during the fourth quarter. LPL Financial LLC now owns 465,454 shares of the business services provider’s stock worth $13,042,000 after acquiring an additional 4,177 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.