Interpublic Group of Companies Inc (IPG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 8.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 670,108 shares of the business services provider’s stock after selling 58,574 shares during the period. Rhumbline Advisers owned about 0.17% of Interpublic Group of Companies worth $14,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IPG. Migdal Insurance & Financial Holdings Ltd. bought a new position in Interpublic Group of Companies during the 1st quarter valued at approximately $83,000. Janney Montgomery Scott LLC raised its position in Interpublic Group of Companies by 62.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,867 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 8,017 shares during the last quarter. First Midwest Bank Trust Division raised its position in Interpublic Group of Companies by 77.2% during the 1st quarter. First Midwest Bank Trust Division now owns 34,432 shares of the business services provider’s stock valued at $723,000 after purchasing an additional 14,997 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Interpublic Group of Companies by 248.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 410,215 shares of the business services provider’s stock valued at $8,619,000 after purchasing an additional 292,631 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Interpublic Group of Companies by 65.4% during the 1st quarter. Quadrant Capital Group LLC now owns 6,711 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 2,654 shares during the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

IPG stock opened at $22.39 on Thursday. Interpublic Group of Companies Inc has a fifty-two week low of $19.61 and a fifty-two week high of $25.10. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.56. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 3.68 and a beta of 1.08.

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

In other Interpublic Group of Companies news, CEO Michael Isor Roth sold 198,985 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $22.95, for a total transaction of $4,566,705.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David M. Thomas bought 8,650 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were acquired at an average price of $23.12 per share, for a total transaction of $199,988.00. The disclosure for this purchase can be found here. Insiders have sold a total of 346,386 shares of company stock worth $7,946,717 in the last quarter. Company insiders own 1.09% of the company’s stock.

A number of research analysts have commented on IPG shares. Zacks Investment Research raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. ValuEngine raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada lowered Interpublic Group of Companies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company 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. The stock has a consensus rating of “Buy” and a consensus target price of $25.38.

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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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