Van ECK Associates Corp Raises Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Van ECK Associates Corp grew its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 61,894 shares of the business services provider’s stock after acquiring an additional 3,516 shares during the quarter. Van ECK Associates Corp’s holdings in Interpublic Group of Companies were worth $2,020,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Marino Stram & Associates LLC raised its position in Interpublic Group of Companies by 1.2% during the fourth quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider’s stock valued at $870,000 after purchasing an additional 315 shares during the period. Bleakley Financial Group LLC lifted its position in Interpublic Group of Companies by 4.6% in the fourth quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after buying an additional 327 shares during the last quarter. Simplicity Solutions LLC boosted its stake in Interpublic Group of Companies by 4.6% during the fourth quarter. Simplicity Solutions LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after buying an additional 327 shares during the period. Lindbrook Capital LLC increased its position in Interpublic Group of Companies by 16.3% during the fourth quarter. Lindbrook Capital LLC now owns 2,748 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 385 shares during the last quarter. Finally, Keybank National Association OH raised its stake in shares of Interpublic Group of Companies by 3.3% in the third quarter. Keybank National Association OH now owns 12,000 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 387 shares during the period. Institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Wells Fargo & Company reduced their price target on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. UBS Group initiated coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.13.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $30.96 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 2.24 and a beta of 1.13. The firm’s 50-day moving average is $31.65 and its two-hundred day moving average is $31.48. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.18 billion. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. Interpublic Group of Companies’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. As a group, research analysts expect that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Activity at Interpublic Group of Companies

In other news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the transaction, the chief accounting officer now owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Andrew Bonzani sold 40,468 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the completion of the transaction, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher F. Carroll sold 18,382 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the sale, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The disclosure for this sale can be found here. Insiders have sold a total of 249,646 shares of company stock valued at $8,038,601 over the last quarter. 0.42% of the stock is owned by corporate insiders.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.