FineMark National Bank & Trust Sells 7,000 Shares of Interpublic Group of Companies, Inc. (The) $IPG

FineMark National Bank & Trust lowered its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 19.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,772 shares of the business services provider’s stock after selling 7,000 shares during the period. FineMark National Bank & Trust’s holdings in Interpublic Group of Companies were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its stake in Interpublic Group of Companies by 5.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider’s stock worth $377,127,000 after acquiring an additional 674,938 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Interpublic Group of Companies by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider’s stock worth $374,304,000 after purchasing an additional 842,925 shares during the period. Goldman Sachs Group Inc. raised its holdings in Interpublic Group of Companies by 49.0% in the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock worth $231,138,000 after purchasing an additional 2,797,490 shares during the period. Deutsche Bank AG grew its holdings in shares of Interpublic Group of Companies by 32.0% in the 1st quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider’s stock valued at $135,051,000 after buying an additional 1,206,542 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Interpublic Group of Companies by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,867,134 shares of the business services provider’s stock valued at $132,191,000 after buying an additional 196,906 shares during the period. 98.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Barclays dropped their price target on 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research report on Monday. Finally, Zacks Research cut Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies Stock Down 0.5%

Shares of IPG stock opened at $24.56 on Friday. The firm’s fifty day moving average price is $26.12 and its two-hundred day moving average price is $25.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The firm has a market capitalization of $8.92 billion, a P/E ratio of 20.81 and a beta of 1.12.

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

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.