Interpublic Group of Companies Inc (NYSE:IPG) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System boosted its position in Interpublic Group of Companies Inc (NYSE:IPG) by 32.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,012,129 shares of the business services provider’s stock after acquiring an additional 246,580 shares during the quarter. California Public Employees Retirement System owned 0.26% of Interpublic Group of Companies worth $21,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Private Capital Group LLC boosted its holdings in Interpublic Group of Companies by 112.2% in the second quarter. Private Capital Group LLC now owns 1,110 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 587 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in shares of Interpublic Group of Companies during the second quarter worth about $26,000. Larson Financial Group LLC acquired a new position in shares of Interpublic Group of Companies during the third quarter worth about $26,000. TD Capital Management LLC acquired a new position in shares of Interpublic Group of Companies during the second quarter worth about $42,000. Finally, Coastal Investment Advisors Inc. acquired a new position in shares of Interpublic Group of Companies during the second quarter worth about $43,000. Hedge funds and other institutional investors own 97.85% of the company’s stock.

In other news, CEO Michael Isor Roth sold 100,314 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $22.04, for a total transaction of $2,210,920.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director H John Greeniaus sold 10,000 shares of Interpublic Group of Companies stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $22.00, for a total value of $220,000.00. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by insiders.

A number of research analysts have commented on the company. BMO Capital Markets reduced their price objective on Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Co assumed coverage on Interpublic Group of Companies in a research note on Monday, September 23rd. They set a “market perform” rating and a $23.00 price objective on the stock. ValuEngine upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Finally, TheStreet cut Interpublic Group of Companies from a “b” rating to a “c+” rating in a research note on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Interpublic Group of Companies currently has an average rating of “Hold” and a consensus target price of $25.20.

Shares of IPG opened at $22.97 on Friday. The stock’s 50-day moving average is $21.22 and its two-hundred day moving average is $21.80. The stock has a market cap of $8.69 billion, a PE ratio of 12.35, a P/E/G ratio of 2.45 and a beta of 1.10. Interpublic Group of Companies Inc has a 12 month low of $19.56 and a 12 month high of $24.68. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.95 and a quick ratio of 0.95.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. Interpublic Group of Companies had a return on equity of 31.19% and a net margin of 6.42%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Interpublic Group of Companies Inc will post 1.89 earnings per share for the current year.

About Interpublic Group of Companies

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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