Gamco Investors INC. ET AL Has $44.52 Million Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Gamco Investors INC. ET AL cut its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,255,784 shares of the business services provider’s stock after selling 17,100 shares during the period. Gamco Investors INC. ET AL owned 0.32% of Interpublic Group of Companies worth $44,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IPG. TD Asset Management Inc. boosted its position in shares of Interpublic Group of Companies by 123.7% in the 4th quarter. TD Asset Management Inc. now owns 250,818 shares of the business services provider’s stock worth $9,393,000 after purchasing an additional 138,683 shares during the last quarter. Pictet Asset Management SA increased its stake in shares of Interpublic Group of Companies by 0.7% in the 4th quarter. Pictet Asset Management SA now owns 316,453 shares of the business services provider’s stock valued at $11,851,000 after acquiring an additional 2,104 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Interpublic Group of Companies by 32.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,282,330 shares of the business services provider’s stock valued at $48,023,000 after acquiring an additional 312,976 shares during the period. Rhumbline Advisers boosted its stake in Interpublic Group of Companies by 1.6% during the 4th quarter. Rhumbline Advisers now owns 718,563 shares of the business services provider’s stock worth $26,910,000 after acquiring an additional 11,159 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its position in shares of Interpublic Group of Companies by 3.0% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 16,439 shares of the business services provider’s stock worth $616,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

Interpublic Group of Companies Stock Down 4.7 %

Shares of IPG stock opened at $27.80 on Wednesday. The firm’s fifty day moving average price is $28.87 and its two-hundred day moving average price is $31.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83. The Interpublic Group of Companies, Inc. has a 1 year low of $26.36 and a 1 year high of $39.98. The firm has a market capitalization of $10.87 billion, a P/E ratio of 11.21, a PEG ratio of 9.17 and a beta of 1.04.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its earnings results on Thursday, July 21st. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Interpublic Group of Companies had a return on equity of 29.37% and a net margin of 9.16%. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. Interpublic Group of Companies’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.71 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, August 31st. Interpublic Group of Companies’s payout ratio is presently 46.77%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IPG. Citigroup dropped their price objective on Interpublic Group of Companies from $43.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Macquarie lowered Interpublic Group of Companies from an “outperform” rating to a “neutral” rating in a research report on Thursday, June 23rd. ING Group initiated coverage on shares of Interpublic Group of Companies in a report on Thursday, September 8th. They set a “buy” rating on the stock. They noted that the move was a valuation call. Wells Fargo & Company upped their price target on shares of Interpublic Group of Companies to $36.00 in a report on Friday, July 22nd. Finally, Moffett Nathanson dropped their price objective on shares of Interpublic Group of Companies to $39.00 in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, Director Jocelyn Carter-Miller sold 6,500 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $30.00, for a total transaction of $195,000.00. Following the sale, the director now directly owns 38,214 shares of the company’s stock, valued at $1,146,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

About Interpublic Group of Companies

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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

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