Interpublic Group of Companies Inc (IPG) Stake Increased by RWC Asset Management LLP

RWC Asset Management LLP increased its position in Interpublic Group of Companies Inc (NYSE:IPG) by 94.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 716,750 shares of the business services provider’s stock after buying an additional 348,071 shares during the period. Interpublic Group of Companies accounts for 1.1% of RWC Asset Management LLP’s investment portfolio, making the stock its 26th largest position. RWC Asset Management LLP owned 0.18% of Interpublic Group of Companies worth $17,611,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Boston Private Wealth LLC bought a new stake in Interpublic Group of Companies during the third quarter worth approximately $1,133,000. Scopus Asset Management L.P. acquired a new position in Interpublic Group of Companies during the third quarter worth about $43,244,000. First Houston Capital Inc. raised its position in Interpublic Group of Companies by 6.4% in the third quarter. First Houston Capital Inc. now owns 99,100 shares of the business services provider’s stock worth $2,215,000 after buying an additional 6,000 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Interpublic Group of Companies during the third quarter worth about $3,831,000. Finally, Ontario Teachers Pension Plan Board raised its position in Interpublic Group of Companies by 2.7% in the third quarter. Ontario Teachers Pension Plan Board now owns 277,499 shares of the business services provider’s stock worth $6,202,000 after buying an additional 7,296 shares in the last quarter. Institutional investors own 96.79% of the company’s stock.

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

Interpublic Group of Companies Inc (NYSE:IPG) traded up 1.11% during trading on Thursday, hitting $24.70. 1,941,338 shares of the stock traded hands. The stock has a market cap of $9.76 billion, a P/E ratio of 16.06 and a beta of 1.60. The firm’s 50-day moving average is $24.37 and its 200-day moving average is $23.98. Interpublic Group of Companies Inc has a 12 month low of $21.67 and a 12 month high of $25.34.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Friday, April 21st. The business services provider reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Interpublic Group of Companies had a return on equity of 28.31% and a net margin of 7.76%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts forecast that Interpublic Group of Companies Inc will post $1.48 EPS for the current year.

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IPG has been the subject of a number of recent research reports. Bank of America Corp initiated coverage on shares of Interpublic Group of Companies in a research report on Thursday, March 2nd. They set a “buy” rating and a $28.00 price target for the company. Royal Bank of Canada reissued a “buy” rating and set a $29.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 11th. Zacks Investment Research raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Thursday, February 9th. Wedbush reissued an “outperform” rating and set a $28.00 price target (down from $29.00) on shares of Interpublic Group of Companies in a research report on Monday, February 13th. Finally, Jefferies Group LLC raised their price target on shares of Interpublic Group of Companies from $26.00 to $27.00 and gave the stock a “positive” rating in a research report on Monday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Interpublic Group of Companies has a consensus rating of “Buy” and an average target price of $27.17.

In other Interpublic Group of Companies news, SVP Ellen Tobi Johnson sold 30,411 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $24.60, for a total value of $748,110.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philippe Krakowsky sold 59,487 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $24.26, for a total value of $1,443,154.62. The disclosure for this sale can be found here. Insiders sold 769,439 shares of company stock valued at $18,740,702 in the last quarter. 1.75% of the stock is currently owned by company insiders.

About Interpublic Group of Companies

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).

12 Month Chart for NYSE:IPG

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