The Interpublic Group of Companies, Inc. (NYSE:IPG) Position Lessened by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,579 shares of the business services provider’s stock after selling 2,698 shares during the period. Commonwealth Equity Services LLC’s holdings in Interpublic Group of Companies were worth $1,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Interpublic Group of Companies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 49,222,062 shares of the business services provider’s stock worth $1,260,085,000 after acquiring an additional 302,083 shares during the last quarter. State Street Corp lifted its position in shares of Interpublic Group of Companies by 1.1% in the third quarter. State Street Corp now owns 21,132,312 shares of the business services provider’s stock worth $540,987,000 after buying an additional 226,086 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Interpublic Group of Companies by 26.9% in the third quarter. Bank of New York Mellon Corp now owns 13,082,339 shares of the business services provider’s stock worth $334,910,000 after buying an additional 2,774,011 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Interpublic Group of Companies by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,334,797 shares of the business services provider’s stock worth $260,020,000 after purchasing an additional 480,227 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Interpublic Group of Companies by 2.6% during the 3rd quarter. First Trust Advisors LP now owns 7,043,912 shares of the business services provider’s stock worth $180,324,000 after purchasing an additional 180,708 shares during the last quarter. Institutional investors own 96.75% of the company’s stock.

Insider Activity

In related news, CAO Christopher F. Carroll sold 16,507 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $35.54, for a total value of $586,658.78. Following the completion of the transaction, the chief accounting officer now directly owns 55,406 shares of the company’s stock, valued at $1,969,129.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Christopher F. Carroll sold 16,507 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $35.54, for a total value of $586,658.78. Following the sale, the chief accounting officer now owns 55,406 shares in the company, valued at $1,969,129.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ellen Tobi Johnson sold 30,437 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $35.56, for a total transaction of $1,082,339.72. Following the completion of the transaction, the chief financial officer now owns 133,533 shares in the company, valued at $4,748,433.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,779 shares of company stock valued at $3,250,936. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America upgraded Interpublic Group of Companies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $38.00 to $40.00 in a research note on Thursday, March 30th. Citigroup upped their price objective on shares of Interpublic Group of Companies from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. StockNews.com started coverage on Interpublic Group of Companies in a report on Thursday. They issued a “sell” rating for the company. Morgan Stanley lifted their price target on Interpublic Group of Companies from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Interpublic Group of Companies from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.50.

Interpublic Group of Companies Trading Up 3.5 %

NYSE:IPG opened at $38.41 on Friday. The firm’s 50 day moving average is $36.11 and its 200 day moving average is $35.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79. The Interpublic Group of Companies, Inc. has a 12 month low of $25.14 and a 12 month high of $39.52. The stock has a market capitalization of $14.83 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.57 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last announced its earnings results on Thursday, April 27th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.07. Interpublic Group of Companies had a net margin of 8.31% and a return on equity of 29.28%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.95 earnings per share for the current year.

Interpublic Group of Companies Company Profile

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Interpublic Group of Cos., Inc engages in the provision of marketing, communications, and business transformation services. It operates through the following segments: Media, Data, and Engagement Solutions, Integrated Advertising and Creativity Led Solutions, and Specialized Communications and Experiential Solutions.