BlackRock Inc. Has $1.21 Billion Holdings in Interpublic Group of Companies Inc (IPG)

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BlackRock Inc. decreased its holdings in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,755,093 shares of the business services provider’s stock after selling 1,914,544 shares during the quarter. BlackRock Inc. owned about 0.13% of Interpublic Group of Companies worth $1,213,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. GAM Holding AG increased its holdings in shares of Interpublic Group of Companies by 64.7% in the second quarter. GAM Holding AG now owns 28,495 shares of the business services provider’s stock worth $668,000 after purchasing an additional 11,196 shares during the period. Standard Life Aberdeen plc grew its position in Interpublic Group of Companies by 20.1% in the second quarter. Standard Life Aberdeen plc now owns 131,865 shares of the business services provider’s stock worth $3,092,000 after acquiring an additional 22,047 shares in the last quarter. Cadence Capital Management LLC grew its position in Interpublic Group of Companies by 43.1% in the second quarter. Cadence Capital Management LLC now owns 145,302 shares of the business services provider’s stock worth $3,406,000 after acquiring an additional 43,772 shares in the last quarter. BancorpSouth Bank grew its position in Interpublic Group of Companies by 12.4% in the second quarter. BancorpSouth Bank now owns 20,613 shares of the business services provider’s stock worth $483,000 after acquiring an additional 2,271 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Interpublic Group of Companies by 12.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 57,001 shares of the business services provider’s stock worth $1,336,000 after acquiring an additional 6,239 shares in the last quarter. 99.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:IPG opened at $23.44 on Thursday. Interpublic Group of Companies Inc has a 52-week low of $18.30 and a 52-week high of $26.01. The firm has a market capitalization of $8.78 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.73 and a beta of 1.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.61.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, July 24th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Interpublic Group of Companies had a net margin of 6.75% and a return on equity of 28.53%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. sell-side analysts predict that Interpublic Group of Companies Inc will post 1.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.84 annualized dividend and a yield of 3.58%. Interpublic Group of Companies’s payout ratio is 59.57%.

In other Interpublic Group of Companies news, CFO Frank Mergenthaler sold 50,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $22.46, for a total transaction of $1,123,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.32% of the company’s stock.

Several brokerages recently issued reports on IPG. Pivotal Research cut their target price on shares of Interpublic Group of Companies from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday, July 3rd. ValuEngine upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Monday, May 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Interpublic Group of Companies presently has an average rating of “Hold” and a consensus price target of $25.10.

About Interpublic Group of Companies

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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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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