Fisher Asset Management LLC Lowers Holdings in Interpublic Group of Companies Inc (IPG)

Fisher Asset Management LLC reduced its holdings in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 93.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,298 shares of the business services provider’s stock after selling 153,929 shares during the period. Fisher Asset Management LLC’s holdings in Interpublic Group of Companies were worth $236,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ariel Investments LLC grew its position in 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. Cubist Systematic Strategies LLC grew its position in Interpublic Group of Companies by 237.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,363 shares of the business services provider’s stock worth $1,251,000 after purchasing an additional 37,563 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Interpublic Group of Companies by 84.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 627,148 shares of the business services provider’s stock worth $14,700,000 after purchasing an additional 287,774 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its position in Interpublic Group of Companies by 104.8% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 43,986 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 22,510 shares during the last quarter. Finally, Sei Investments Co. grew its position in Interpublic Group of Companies by 0.8% during the 2nd quarter. Sei Investments Co. now owns 797,220 shares of the business services provider’s stock worth $18,687,000 after purchasing an additional 6,525 shares during the last quarter. 99.65% of the stock is currently owned by institutional investors.

IPG stock opened at $23.13 on Tuesday. Interpublic Group of Companies Inc has a one year low of $18.30 and a one year high of $26.01. The firm has a market capitalization of $8.76 billion, a PE ratio of 16.40, a PEG ratio of 1.76 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.50.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Friday, October 19th. The business services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Interpublic Group of Companies had a net margin of 6.62% and a return on equity of 30.99%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business earned $0.31 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts expect that Interpublic Group of Companies Inc will post 1.74 EPS for the current year.

In related news, Director Jocelyn Carter-Miller sold 8,735 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $23.24, for a total value of $203,001.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Frank Mergenthaler sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $22.46, for a total transaction of $1,123,000.00. The disclosure for this sale can be found here. Insiders sold a total of 63,735 shares of company stock valued at $1,443,501 in the last 90 days. Company insiders own 1.32% of the company’s stock.

Several research analysts have issued reports on the stock. ValuEngine raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, October 24th. Morgan Stanley restated an “equal weight” rating and issued a $24.00 target price on shares of Interpublic Group of Companies in a research note on Monday, October 15th. BMO Capital Markets raised their target price on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 24th. Finally, JPMorgan Chase & Co. began coverage on shares of Interpublic Group of Companies in a research note on Thursday, October 11th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.56.

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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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