Interpublic Group Of Cos. said on May 25, 2023 that its board of directors declared a regular quarterly dividend of $0.31 per share ($1.24 annualized). Previously, the company paid $0.31 per share.
Shares must be purchased before the ex-div date of June 5, 2023 to qualify for the dividend. Shareholders of record as of June 6, 2023 will receive the payment on June 20, 2023.
At the current share price of $37.71 / share, the stock’s dividend yield is 3.29%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.05%, the lowest has been 2.79%, and the highest has been 7.92%. The standard deviation of yields is 0.92 (n=237).
The current dividend yield is 0.83 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.53. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1486 funds or institutions reporting positions in Interpublic Group Of Cos.. This is an increase of 13 owner(s) or 0.88% in the last quarter. Average portfolio weight of all funds dedicated to IPG is 0.27%, an increase of 21.51%. Total shares owned by institutions increased in the last three months by 1.35% to 434,166K shares. The put/call ratio of IPG is 0.94, indicating a bullish outlook.
Analyst Price Forecast Suggests 9.28% Upside
As of May 11, 2023, the average one-year price target for Interpublic Group Of Cos. is 41.21. The forecasts range from a low of 37.37 to a high of $47.25. The average price target represents an increase of 9.28% from its latest reported closing price of 37.71.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Interpublic Group Of Cos. is 9,459MM, an increase of 0.64%. The projected annual non-GAAP EPS is 2.65.
What are Other Shareholders Doing?
Bank of New York Mellon holds 14,127K shares representing 3.66% ownership of the company. In it’s prior filing, the firm reported owning 13,772K shares, representing an increase of 2.52%. The firm decreased its portfolio allocation in IPG by 87.36% over the last quarter.
Harris Associates L P holds 13,934K shares representing 3.61% ownership of the company. In it’s prior filing, the firm reported owning 14,129K shares, representing a decrease of 1.40%. The firm increased its portfolio allocation in IPG by 3.49% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 11,921K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 11,799K shares, representing an increase of 1.02%. The firm increased its portfolio allocation in IPG by 4.29% over the last quarter.
Black Creek Investment Management holds 10,797K shares representing 2.80% ownership of the company. In it’s prior filing, the firm reported owning 11,362K shares, representing a decrease of 5.23%. The firm decreased its portfolio allocation in IPG by 8.29% over the last quarter.
Invesco holds 10,064K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 8,948K shares, representing an increase of 11.09%. The firm decreased its portfolio allocation in IPG by 88.92% over the last quarter.
Interpublic Group Of Cos. Background Information
(This description is provided by the company.)
Interpublic Group of Companies Inc. is values-based, data-fueled, and creatively-driven. Major global brands include Acxiom, Craft, FCB (Foote, Cone & Belding), FutureBrand, Golin, Huge, Initiative, Jack Morton, Kinesso, MAGNA, Matterkind, McCann, Mediahub, Momentum, MRM, MullenLowe Group, Octagon, R/GA, UM and Weber Shandwick. Other leading brands include Avrett Free Ginsberg, Campbell Ewald, Carmichael Lynch, Deutsch, Hill Holliday, ID Media and The Martin Agency.
Key filings for this company:
This story originally appeared on Fintel.
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