Pzena Investment Management LLC Acquires 39,055 Shares of Interpublic Group of Companies Inc (NYSE:IPG)

Pzena Investment Management LLC lifted its holdings in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,512,831 shares of the business services provider’s stock after purchasing an additional 39,055 shares during the period. Interpublic Group of Companies comprises about 2.0% of Pzena Investment Management LLC’s investment portfolio, making the stock its 19th biggest position. Pzena Investment Management LLC owned 4.26% of Interpublic Group of Companies worth $373,025,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Interpublic Group of Companies by 21.3% during the 1st quarter. BlackRock Inc. now owns 50,595,126 shares of the business services provider’s stock valued at $1,063,001,000 after purchasing an additional 8,893,992 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Interpublic Group of Companies by 20.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 9,475,275 shares of the business services provider’s stock valued at $199,074,000 after buying an additional 1,603,251 shares during the period. Geode Capital Management LLC boosted its position in Interpublic Group of Companies by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 5,912,918 shares of the business services provider’s stock valued at $121,825,000 after buying an additional 479,075 shares during the period. Dimensional Fund Advisors LP boosted its position in Interpublic Group of Companies by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,243,313 shares of the business services provider’s stock valued at $66,908,000 after buying an additional 41,879 shares during the period. Finally, Hamlin Capital Management LLC boosted its position in Interpublic Group of Companies by 1.2% during the 2nd quarter. Hamlin Capital Management LLC now owns 2,875,796 shares of the business services provider’s stock valued at $64,964,000 after buying an additional 33,980 shares during the period. 98.86% of the stock is currently owned by institutional investors.

Several equities research analysts have recently commented on the stock. ValuEngine cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Wednesday, July 3rd. Bank of America raised shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets dropped their target price on shares of Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $25.71.

NYSE IPG traded up $0.45 during trading hours on Friday, reaching $20.02. 101,204 shares of the company’s stock traded hands, compared to its average volume of 3,501,375. Interpublic Group of Companies Inc has a 52-week low of $19.56 and a 52-week high of $25.10. The firm has a market cap of $8.06 billion, a PE ratio of 10.76, a PEG ratio of 2.34 and a beta of 1.06. The firm has a 50-day simple moving average of $22.49 and a 200 day simple moving average of $22.37. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.97 and a quick ratio of 0.97.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Interpublic Group of Companies had a net margin of 6.46% and a return on equity of 32.03%. Interpublic Group of Companies’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. Sell-side analysts forecast that Interpublic Group of Companies Inc will post 1.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, August 30th. This represents a $0.94 dividend on an annualized basis and a yield of 4.70%. Interpublic Group of Companies’s dividend payout ratio is currently 50.54%.

In other Interpublic Group of Companies news, CEO Michael Isor Roth sold 431,594 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $23.08, for a total transaction of $9,961,189.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director H John Greeniaus sold 44,396 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $23.02, for a total transaction of $1,021,995.92. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by company insiders.

Interpublic Group of Companies 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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