Interpublic Group of Companies Inc (NYSE:IPG) Shares Acquired by Fort L.P.

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Fort L.P. grew its holdings in Interpublic Group of Companies Inc (NYSE:IPG) by 3.9% during the 1st quarter, Holdings Channel reports. The fund owned 127,884 shares of the business services provider’s stock after purchasing an additional 4,799 shares during the period. Fort L.P.’s holdings in Interpublic Group of Companies were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Citizens Financial Group Inc RI boosted its holdings in Interpublic Group of Companies by 1,031.7% during the fourth quarter. Citizens Financial Group Inc RI now owns 1,856 shares of the business services provider’s stock worth $43,000 after buying an additional 1,692 shares in the last quarter. Westside Investment Management Inc. acquired a new position in Interpublic Group of Companies during the first quarter worth $32,000. Cullen Frost Bankers Inc. raised its position in shares of Interpublic Group of Companies by 188.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,029 shares of the business services provider’s stock valued at $47,000 after buying an additional 1,325 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Interpublic Group of Companies by 54.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,874 shares of the business services provider’s stock valued at $66,000 after buying an additional 1,008 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Interpublic Group of Companies during the first quarter worth about $49,000. 99.74% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on IPG. Cfra cut their price objective on shares of Interpublic Group of Companies from $25.00 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. TheStreet lowered shares of Interpublic Group of Companies from a “b-” rating to a “c+” rating in a research note on Thursday, March 19th. Morgan Stanley lowered their price objective on shares of Interpublic Group of Companies from $26.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Citigroup lowered their price objective on shares of Interpublic Group of Companies from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Interpublic Group of Companies from $29.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $22.00.

In other Interpublic Group of Companies news, Director Dawn E. Hudson acquired 3,100 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $15.79 per share, for a total transaction of $48,949.00. 1.09% of the stock is owned by insiders.

IPG stock traded down $1.37 during midday trading on Thursday, reaching $17.29. 368,408 shares of the company were exchanged, compared to its average volume of 5,214,675. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.97 and a current ratio of 0.97. Interpublic Group of Companies Inc has a 1-year low of $11.63 and a 1-year high of $25.20. The stock’s 50-day simple moving average is $16.65 and its 200 day simple moving average is $19.82. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 10.32 and a beta of 1.06.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Interpublic Group of Companies had a net margin of 6.54% and a return on equity of 29.27%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm posted $0.11 EPS. Interpublic Group of Companies’s quarterly revenue was down 1.7% on a year-over-year basis. On average, research analysts anticipate that Interpublic Group of Companies Inc will post 1.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.255 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.02 annualized dividend and a dividend yield of 5.90%. Interpublic Group of Companies’s dividend payout ratio is presently 52.85%.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

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

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