Advisors Asset Management Inc. Buys 30,215 Shares of Interpublic Group of Companies Inc (IPG)

Advisors Asset Management Inc. grew its stake in Interpublic Group of Companies Inc (NYSE:IPG) by 232.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 43,241 shares of the business services provider’s stock after buying an additional 30,215 shares during the period. Advisors Asset Management Inc.’s holdings in Interpublic Group of Companies were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. LifePlan Financial Group Inc bought a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at about $187,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at about $283,000. Barings LLC bought a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at about $309,000. Tower Research Capital LLC TRC bought a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at about $372,000. Finally, IFM Investors Pty Ltd boosted its position in shares of Interpublic Group of Companies by 57.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 16,521 shares of the business services provider’s stock valued at $387,000 after purchasing an additional 6,026 shares in the last quarter. 99.93% of the stock is owned by institutional investors.

IPG has been the topic of several research analyst reports. Royal Bank of Canada upgraded Interpublic Group of Companies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 25th. ValuEngine upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Macquarie upgraded Interpublic Group of Companies from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $24.00 to $25.00 in a report on Thursday, September 20th. Finally, JPMorgan Chase & Co. initiated coverage on Interpublic Group of Companies in a report on Thursday, October 11th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.56.

In other news, CFO Frank Mergenthaler sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $22.46, for a total value of $1,123,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director H John Greeniaus sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $23.50, for a total value of $117,500.00. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by corporate insiders.

Shares of NYSE:IPG opened at $22.80 on Friday. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.81 and a beta of 1.17. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.24 and a current ratio of 1.24. Interpublic Group of Companies Inc has a 52-week low of $18.30 and a 52-week high of $26.01.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Friday, October 19th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Interpublic Group of Companies had a return on equity of 30.99% and a net margin of 6.62%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities research analysts anticipate that Interpublic Group of Companies Inc will post 1.74 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.

Featured Article: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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