Renaissance Technologies LLC Has $12.28 Million Position in Interpublic Group of Companies, Inc. (The) (IPG)

Renaissance Technologies LLC lessened its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 68.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 499,200 shares of the business services provider’s stock after selling 1,070,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.13% of Interpublic Group of Companies, Inc. (The) worth $12,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of IPG. OppenheimerFunds Inc. lifted its stake in shares of Interpublic Group of Companies, Inc. (The) by 4.0% during the 1st quarter. OppenheimerFunds Inc. now owns 39,244 shares of the business services provider’s stock worth $964,000 after purchasing an additional 1,522 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of Interpublic Group of Companies, Inc. (The) by 4.9% during the 1st quarter. Thrivent Financial For Lutherans now owns 14,487 shares of the business services provider’s stock worth $356,000 after purchasing an additional 680 shares during the last quarter. Global X Management Co. LLC lifted its stake in shares of Interpublic Group of Companies, Inc. (The) by 29.9% during the 1st quarter. Global X Management Co. LLC now owns 5,502 shares of the business services provider’s stock worth $135,000 after purchasing an additional 1,266 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Interpublic Group of Companies, Inc. (The) by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,882,095 shares of the business services provider’s stock valued at $46,243,000 after buying an additional 15,347 shares during the last quarter. Finally, UBS Group AG raised its stake in Interpublic Group of Companies, Inc. (The) by 119.9% in the first quarter. UBS Group AG now owns 335,714 shares of the business services provider’s stock valued at $8,249,000 after buying an additional 183,021 shares during the last quarter. 97.77% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Ellen Tobi Johnson sold 20,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $20.50, for a total value of $410,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.49% of the company’s stock.

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IPG has been the subject of several research analyst reports. BidaskClub lowered Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a report on Thursday, July 27th. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 price objective (down from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a report on Wednesday, July 26th. Argus dropped their price objective on Interpublic Group of Companies, Inc. (The) from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada set a $24.00 target price on Interpublic Group of Companies, Inc. (The) and gave the company a “hold” rating in a research report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.77.

Shares of Interpublic Group of Companies, Inc. (IPG) opened at 19.67 on Friday. The stock has a market cap of $7.74 billion, a P/E ratio of 14.16 and a beta of 1.53. The firm has a 50-day moving average price of $20.67 and a 200-day moving average price of $22.75. Interpublic Group of Companies, Inc. has a 52-week low of $19.01 and a 52-week high of $25.71.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last announced its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.96 billion. Interpublic Group of Companies, Inc. (The) had a net margin of 7.43% and a return on equity of 27.45%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. On average, analysts anticipate that Interpublic Group of Companies, Inc. will post $1.40 EPS for the current fiscal year.

About Interpublic Group of Companies, Inc. (The)

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

Institutional Ownership by Quarter for Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

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