Fairpointe Capital LLC Sells 815,686 Shares of Interpublic Group of Companies Inc (IPG)

Fairpointe Capital LLC reduced its position in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,567,800 shares of the business services provider’s stock after selling 815,686 shares during the period. Fairpointe Capital LLC owned 0.67% of Interpublic Group of Companies worth $60,189,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Interpublic Group of Companies by 34.5% during the 1st quarter. BlackRock Inc. now owns 53,669,637 shares of the business services provider’s stock worth $1,236,011,000 after purchasing an additional 13,763,034 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Interpublic Group of Companies by 0.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 27,243,006 shares of the business services provider’s stock worth $638,576,000 after purchasing an additional 95,003 shares during the last quarter. Ariel Investments LLC boosted its stake in shares of Interpublic Group of Companies by 0.4% during the 2nd quarter. Ariel Investments LLC now owns 7,706,271 shares of the business services provider’s stock worth $180,635,000 after purchasing an additional 28,507 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Interpublic Group of Companies by 25.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 5,223,776 shares of the business services provider’s stock worth $120,302,000 after purchasing an additional 1,044,075 shares during the last quarter. Finally, Fiduciary Management Inc. WI boosted its stake in shares of Interpublic Group of Companies by 3.7% during the 1st quarter. Fiduciary Management Inc. WI now owns 5,154,526 shares of the business services provider’s stock worth $118,709,000 after purchasing an additional 181,858 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on the stock. ValuEngine cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Zacks Investment Research cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Pivotal Research decreased their price target on shares of Interpublic Group of Companies from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday, July 3rd. Finally, Moffett Nathanson assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday, June 19th. They set a “neutral” rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $25.10.

IPG opened at $22.71 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.94 and a current ratio of 0.94. Interpublic Group of Companies Inc has a 1 year low of $18.30 and a 1 year high of $26.01. The company has a market capitalization of $8.75 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.72 and a beta of 1.19.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, July 24th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Interpublic Group of Companies had a net margin of 6.75% and a return on equity of 28.53%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts anticipate that Interpublic Group of Companies Inc will post 1.72 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be given a $0.21 dividend. The ex-dividend date is Friday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 3.70%. Interpublic Group of Companies’s dividend payout ratio is presently 59.57%.

In related news, CFO Frank Mergenthaler sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $22.46, for a total value of $1,123,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.49% of the stock is currently owned by company insiders.

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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