Interpublic Group of Companies Inc (IPG) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in Interpublic Group of Companies Inc (NYSE:IPG) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,072 shares of the business services provider’s stock after acquiring an additional 3,129 shares during the quarter. State of Alaska Department of Revenue’s holdings in Interpublic Group of Companies were worth $2,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Interpublic Group of Companies by 0.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 27,243,006 shares of the business services provider’s stock valued at $638,576,000 after buying an additional 95,003 shares in the last quarter. Ariel Investments LLC lifted its stake in shares of 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 valued at $180,635,000 after buying an additional 28,507 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Interpublic Group of Companies by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,717,435 shares of the business services provider’s stock valued at $63,702,000 after buying an additional 43,742 shares in the last quarter. Hamlin Capital Management LLC lifted its stake in shares of Interpublic Group of Companies by 95.8% during the 2nd quarter. Hamlin Capital Management LLC now owns 2,677,615 shares of the business services provider’s stock valued at $62,763,000 after buying an additional 1,310,020 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Interpublic Group of Companies by 1.5% during the 1st quarter. Legal & General Group Plc now owns 2,267,277 shares of the business services provider’s stock valued at $52,206,000 after buying an additional 33,500 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

In other Interpublic Group of Companies news, CFO Frank Mergenthaler sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $22.46, for a total value of $1,123,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.32% of the company’s stock.

NYSE IPG opened at $22.20 on Thursday. Interpublic Group of Companies Inc has a 1 year low of $18.30 and a 1 year high of $26.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.73 and a beta of 1.17.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, July 24th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Interpublic Group of Companies had a net margin of 6.75% and a return on equity of 28.53%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts forecast that Interpublic Group of Companies Inc will post 1.72 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, August 31st. Interpublic Group of Companies’s dividend payout ratio is presently 59.57%.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. ValuEngine cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Royal Bank of Canada upgraded shares of Interpublic Group of Companies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 25th. Pivotal Research dropped their price target on shares of Interpublic Group of Companies from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday, July 3rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Interpublic Group of Companies in a research note on Thursday, October 11th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $25.22.

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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