Advisors Asset Management Inc. Has $8.68 Million Stake in Interpublic Group of Companies, Inc. (The) $IPG

Advisors Asset Management Inc. reduced its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 22.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 354,478 shares of the business services provider’s stock after selling 101,443 shares during the quarter. Advisors Asset Management Inc. owned about 0.10% of Interpublic Group of Companies worth $8,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IPG. Parkside Financial Bank & Trust increased its stake in Interpublic Group of Companies by 72.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 585 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Interpublic Group of Companies by 20.0% in the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 391 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Interpublic Group of Companies by 22.9% in the 2nd quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 485 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Interpublic Group of Companies by 54.1% during the 2nd quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock worth $75,000 after buying an additional 1,078 shares in the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Interpublic Group of Companies during the 1st quarter worth $102,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 2.6%

Interpublic Group of Companies stock opened at $25.04 on Wednesday. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 21.22 and a beta of 1.12. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a 50 day moving average price of $26.07 and a two-hundred day moving average price of $25.42.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Monday, November 10th. The business services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.19 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. Equities analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IPG. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Zacks Research lowered shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Interpublic Group of Companies in a research note on Monday. Finally, Barclays cut their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus target price of $32.18.

About Interpublic Group of Companies

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.