The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its position in The Interpublic Group of Companies, Inc. (NYSE:IPGFree Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,869 shares of the business services provider’s stock after selling 3,010 shares during the period. CIBC Asset Management Inc’s holdings in Interpublic Group of Companies were worth $2,052,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Black Creek Investment Management Inc. boosted its stake in Interpublic Group of Companies by 14.1% in the third quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after acquiring an additional 1,204,630 shares during the period. Dimensional Fund Advisors LP boosted its stake in Interpublic Group of Companies by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,150,371 shares of the business services provider’s stock valued at $168,119,000 after acquiring an additional 141,828 shares during the period. American Century Companies Inc. boosted its stake in Interpublic Group of Companies by 24.6% in the third quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock valued at $132,852,000 after acquiring an additional 916,574 shares during the period. PNC Financial Services Group Inc. boosted its stake in Interpublic Group of Companies by 5.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,038,225 shares of the business services provider’s stock valued at $87,076,000 after acquiring an additional 160,312 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Interpublic Group of Companies by 1.6% in the fourth quarter. Brown Advisory Inc. now owns 1,264,019 shares of the business services provider’s stock valued at $41,258,000 after acquiring an additional 19,927 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $30.72 on Friday. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $40.95. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 2.81 and a beta of 1.13. The stock’s 50 day moving average price is $31.18 and its 200 day moving average price is $31.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPGGet Free Report) last announced its earnings results on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.32 annualized dividend and a yield of 4.30%. Interpublic Group of Companies’s payout ratio is 46.98%.

Analyst Ratings Changes

IPG has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Wells Fargo & Company cut 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.13.

View Our Latest Research Report on Interpublic Group of Companies

Interpublic Group of Companies Company Profile

(Free Report)

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.

Recommended Stories

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

Receive News & Ratings for Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.