Reinhart Partners Inc. Sells 20,962 Shares of Interpublic Group of Companies Inc (NYSE:IPG)

Reinhart Partners Inc. lessened its holdings in Interpublic Group of Companies Inc (NYSE:IPG) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,037,986 shares of the business services provider’s stock after selling 20,962 shares during the period. Interpublic Group of Companies accounts for 2.1% of Reinhart Partners Inc.’s holdings, making the stock its 19th biggest position. Reinhart Partners Inc. owned about 0.27% of Interpublic Group of Companies worth $22,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. South Texas Money Management Ltd. bought a new position in Interpublic Group of Companies during the 2nd quarter worth $7,840,000. DNB Asset Management AS increased its position in Interpublic Group of Companies by 46.7% during the 2nd quarter. DNB Asset Management AS now owns 210,564 shares of the business services provider’s stock worth $4,757,000 after buying an additional 66,988 shares during the period. WINTON GROUP Ltd bought a new position in Interpublic Group of Companies during the 2nd quarter worth $6,127,000. Retirement Systems of Alabama grew its holdings in shares of Interpublic Group of Companies by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 180,493 shares of the business services provider’s stock worth $4,077,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Boston Private Wealth LLC grew its holdings in shares of Interpublic Group of Companies by 1.8% during the 2nd quarter. Boston Private Wealth LLC now owns 638,285 shares of the business services provider’s stock worth $14,419,000 after purchasing an additional 11,583 shares in the last quarter. Institutional investors and hedge funds own 97.85% of the company’s stock.

Several analysts have recently issued reports on IPG shares. ValuEngine raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Monday, October 7th. TheStreet lowered Interpublic Group of Companies from a “b” rating to a “c+” rating in a report on Thursday, August 15th. BMO Capital Markets reduced their target price on Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, Wells Fargo & Co started coverage on Interpublic Group of Companies in a report on Monday, September 23rd. They set a “market perform” rating and a $23.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.20.

Shares of IPG traded up $0.30 during trading hours on Friday, hitting $22.97. 2,054,088 shares of the company were exchanged, compared to its average volume of 3,766,033. The company has a market cap of $8.69 billion, a price-to-earnings 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 fifty-two week low of $19.56 and a fifty-two week high of $24.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The firm’s fifty day moving average is $21.22 and its 200 day moving average is $21.80.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. Interpublic Group of Companies had a return on equity of 31.19% and a net margin of 6.42%. Interpublic Group of Companies’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. Analysts anticipate that Interpublic Group of Companies Inc will post 1.89 EPS for the current year.

In related news, Director H John Greeniaus sold 10,000 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Isor Roth sold 100,314 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $22.04, for a total value of $2,210,920.56. The disclosure for this sale can be found here. Company insiders own 1.09% of the company’s stock.

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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