Atria Investments LLC Purchases Shares of 31,561 The Interpublic Group of Companies, Inc. (NYSE:IPG)

Atria Investments LLC purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) during the 1st quarter, Holdings Channel.com reports. The fund purchased 31,561 shares of the business services provider’s stock, valued at approximately $1,119,000.

Several other hedge funds have also recently modified their holdings of IPG. State Street Corp raised its stake in Interpublic Group of Companies by 4.3% during the fourth quarter. State Street Corp now owns 21,776,352 shares of the business services provider’s stock valued at $815,524,000 after purchasing an additional 899,103 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $29,990,000. Brown Advisory Inc. grew its holdings in Interpublic Group of Companies by 2,563.3% during the 4th quarter. Brown Advisory Inc. now owns 806,573 shares of the business services provider’s stock worth $30,205,000 after acquiring an additional 776,288 shares in the last quarter. Black Creek Investment Management Inc. grew its holdings in Interpublic Group of Companies by 7.0% during the 4th quarter. Black Creek Investment Management Inc. now owns 11,803,144 shares of the business services provider’s stock worth $442,028,000 after acquiring an additional 775,502 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Interpublic Group of Companies by 185.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,084,865 shares of the business services provider’s stock worth $38,458,000 after acquiring an additional 705,043 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Insider Buying and Selling

In other Interpublic Group of Companies news, Director Mary Guilfoile sold 6,301 shares of the company’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $32.41, for a total value of $204,215.41. Following the sale, the director now owns 102,803 shares of the company’s stock, valued at $3,331,845.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dawn E. Hudson sold 18,376 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $32.45, for a total value of $596,301.20. Following the transaction, the director now directly owns 32,880 shares in the company, valued at approximately $1,066,956. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Guilfoile sold 6,301 shares of the firm’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $32.41, for a total value of $204,215.41. Following the sale, the director now owns 102,803 shares in the company, valued at $3,331,845.23. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Interpublic Group of Companies Price Performance

IPG stock opened at $29.52 on Thursday. The business has a 50 day moving average price of $29.07 and a 200 day moving average price of $33.04. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 9.45 and a beta of 1.03. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.36 and a fifty-two week high of $39.98. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.82.

Interpublic Group of Companies (NYSE:IPGGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The business services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Interpublic Group of Companies had a return on equity of 29.44% and a net margin of 9.16%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.71 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 21st. Investors of record on Monday, June 6th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Friday, June 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 46.77%.

Wall Street Analyst Weigh In

Several analysts have commented on IPG shares. Wells Fargo & Company increased their price target on shares of Interpublic Group of Companies to $36.00 in a research report on Friday, July 22nd. Moffett Nathanson cut their price target on shares of Interpublic Group of Companies to $39.00 in a report on Friday, July 22nd. Citigroup cut their price target on shares of Interpublic Group of Companies from $43.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $45.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Finally, StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.56.

About Interpublic Group of Companies

(Get Rating)

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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