Rhumbline Advisers Has $14.08 Million Holdings in Interpublic Group of Companies Inc (IPG)

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Rhumbline Advisers cut its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,108 shares of the business services provider’s stock after selling 58,574 shares during the quarter. Rhumbline Advisers’ holdings in Interpublic Group of Companies were worth $14,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brand Asset Management Group Inc. raised its position in shares of Interpublic Group of Companies by 106.6% in the first quarter. Brand Asset Management Group Inc. now owns 942 shares of the business services provider’s stock worth $51,000 after acquiring an additional 486 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $29,000. CWM LLC raised its position in shares of Interpublic Group of Companies by 85.2% in the fourth quarter. CWM LLC now owns 1,880 shares of the business services provider’s stock worth $39,000 after acquiring an additional 865 shares during the period. Bremer Trust National Association acquired a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $40,000. Finally, Westside Investment Management Inc. acquired a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $41,000. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director David M. Thomas purchased 8,650 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average price of $23.12 per share, for a total transaction of $199,988.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jocelyn Carter-Miller sold 5,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $22.46, for a total transaction of $130,268.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 346,386 shares of company stock valued at $7,946,717. Insiders own 1.09% of the company’s stock.

A number of brokerages have weighed in on IPG. ValuEngine upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, Royal Bank of Canada downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $28.00 to $24.00 in a research report on Thursday, January 17th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Interpublic Group of Companies presently has an average rating of “Buy” and an average target price of $25.38.

IPG opened at $22.39 on Thursday. Interpublic Group of Companies Inc has a twelve month low of $19.61 and a twelve month high of $25.10. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $8.65 billion, a P/E ratio of 12.04, a P/E/G ratio of 3.68 and a beta of 1.08.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Friday, April 26th. The business services provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. Interpublic Group of Companies had a net margin of 6.31% and a return on equity of 32.74%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that Interpublic Group of Companies Inc will post 1.9 earnings per share for the current fiscal year.

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Interpublic Group of Companies 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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