Great West Life Assurance Co. Can Boosts Position in Interpublic Group of Companies Inc (IPG)

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Great West Life Assurance Co. Can increased its position in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 495,466 shares of the business services provider’s stock after buying an additional 21,800 shares during the quarter. Great West Life Assurance Co. Can owned about 0.13% of Interpublic Group of Companies worth $11,627,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of IPG. BlackRock Inc. increased its holdings in Interpublic Group of Companies by 34.5% during the 1st quarter. BlackRock Inc. now owns 53,669,637 shares of the business services provider’s stock worth $1,236,011,000 after purchasing an additional 13,763,034 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in Interpublic Group of Companies during the 1st quarter worth approximately $57,763,000. Hamlin Capital Management LLC increased its holdings in Interpublic Group of Companies by 95.8% during the 2nd quarter. Hamlin Capital Management LLC now owns 2,677,615 shares of the business services provider’s stock worth $62,763,000 after purchasing an additional 1,310,020 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Interpublic Group of Companies by 25.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 5,223,776 shares of the business services provider’s stock worth $120,302,000 after purchasing an additional 1,044,075 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Interpublic Group of Companies by 91.7% during the 1st quarter. Millennium Management LLC now owns 1,902,027 shares of the business services provider’s stock worth $43,804,000 after purchasing an additional 909,836 shares in the last quarter. 99.89% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Frank Mergenthaler sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $22.46, for a total value of $1,123,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.49% of the company’s stock.

A number of brokerages have commented on IPG. ValuEngine lowered Interpublic Group of Companies from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Zacks Investment Research lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Finally, Pivotal Research reduced their target price on Interpublic Group of Companies from $25.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.10.

IPG stock opened at $22.60 on Friday. The company has a market capitalization of $8.69 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.71 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.94 and a quick ratio of 0.94. Interpublic Group of Companies Inc has a 12-month low of $18.30 and a 12-month high of $26.01.

Interpublic Group of Companies (NYSE:IPG) last released its 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. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. Interpublic Group of Companies had a return on equity of 28.53% and a net margin of 6.75%. Interpublic Group of Companies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. analysts anticipate that Interpublic Group of Companies Inc will post 1.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Friday, August 31st. Interpublic Group of Companies’s dividend payout ratio is presently 59.57%.

Interpublic Group of Companies Profile

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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