Bank of The West Sells 24,520 Shares of Interpublic Group of Companies Inc (IPG)

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Bank of The West cut its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 69.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,693 shares of the business services provider’s stock after selling 24,520 shares during the quarter. Bank of The West’s holdings in Interpublic Group of Companies were worth $245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NuWave Investment Management LLC lifted its holdings in shares of Interpublic Group of Companies by 117.3% during the third quarter. NuWave Investment Management LLC now owns 5,654 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,052 shares during the period. LifePlan Financial Group Inc acquired a new stake in shares of Interpublic Group of Companies during the second quarter worth $187,000. Lourd Capital LLC acquired a new stake in shares of Interpublic Group of Companies during the third quarter worth $203,000. Round Table Services LLC acquired a new stake in shares of Interpublic Group of Companies during the third quarter worth $203,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Interpublic Group of Companies during the second quarter worth $283,000. 99.65% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Frank Mergenthaler sold 50,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jocelyn Carter-Miller sold 8,735 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $23.24, for a total value of $203,001.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,735 shares of company stock valued at $1,443,501. Company insiders own 1.49% of the company’s stock.

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their price target on Interpublic Group of Companies from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 24th. Zacks Investment Research raised Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, October 24th. Citigroup raised their target price on Interpublic Group of Companies from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, October 19th. ValuEngine raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Finally, Macquarie raised Interpublic Group of Companies from a “neutral” rating to an “outperform” rating and raised their target price for the company from $24.00 to $25.00 in a report on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $25.56.

Interpublic Group of Companies stock opened at $23.92 on Friday. 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 debt-to-equity ratio of 1.50, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Friday, October 19th. The business services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Interpublic Group of Companies had a return on equity of 30.99% and a net margin of 6.62%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company earned $0.31 earnings per share. Interpublic Group of Companies’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts predict 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 Company 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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