Interpublic Group of Companies Inc (IPG) Shares Sold by Gamco Investors INC. ET AL

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Gamco Investors INC. ET AL lessened its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,437,485 shares of the business services provider’s stock after selling 122,590 shares during the quarter. Gamco Investors INC. ET AL owned 0.63% of Interpublic Group of Companies worth $55,745,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IPG. WBI Investments Inc. boosted its stake in Interpublic Group of Companies by 5,592.0% during the third quarter. WBI Investments Inc. now owns 1,628,601 shares of the business services provider’s stock worth $37,246,000 after buying an additional 1,599,989 shares during the period. Glenmede Trust Co. NA boosted its stake in Interpublic Group of Companies by 12,133.8% during the second quarter. Glenmede Trust Co. NA now owns 1,606,423 shares of the business services provider’s stock worth $37,654,000 after buying an additional 1,593,292 shares during the period. Hamlin Capital Management LLC boosted its stake in Interpublic Group of Companies by 95.8% during the second quarter. Hamlin Capital Management LLC now owns 2,677,615 shares of the business services provider’s stock worth $62,763,000 after buying an additional 1,310,020 shares during the period. Renaissance Technologies LLC boosted its stake in Interpublic Group of Companies by 365.4% during the second quarter. Renaissance Technologies LLC now owns 1,016,400 shares of the business services provider’s stock worth $23,824,000 after buying an additional 798,000 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Interpublic Group of Companies by 3,823.6% during the second quarter. Advisors Asset Management Inc. now owns 511,084 shares of the business services provider’s stock worth $1,014,000 after buying an additional 498,058 shares during the period. 99.65% of the stock is owned by institutional investors.

Several research analysts have recently commented on IPG shares. ValuEngine raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, October 24th. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 price objective on shares of Interpublic Group of Companies in a research note on Monday, October 15th. BMO Capital Markets raised their price objective on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 24th. Finally, JPMorgan Chase & Co. started coverage on shares of Interpublic Group of Companies in a research note on Thursday, October 11th. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Interpublic Group of Companies currently has a consensus rating of “Hold” and an average target price of $25.56.

In related news, CFO Frank Mergenthaler sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $22.46, for a total value of $1,123,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director H John Greeniaus sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $23.50, for a total transaction of $117,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 63,735 shares of company stock valued at $1,443,501. Insiders own 1.32% of the company’s stock.

NYSE IPG opened at $23.13 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.50. Interpublic Group of Companies Inc has a one year low of $18.30 and a one year high of $26.01. The company has a market capitalization of $8.76 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.76 and a beta of 1.07.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Friday, October 19th. The business services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Interpublic Group of Companies had a net margin of 6.62% and a return on equity of 30.99%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Interpublic Group of Companies Inc will post 1.74 earnings per share for the current year.

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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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