Gabelli Funds LLC Lowers Stock Holdings in Interpublic Group of Companies Inc (NYSE:IPG)

Gabelli Funds LLC reduced its position in Interpublic Group of Companies Inc (NYSE:IPG) by 25.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,719,000 shares of the business services provider’s stock after selling 600,000 shares during the period. Gabelli Funds LLC owned about 0.44% of Interpublic Group of Companies worth $38,832,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Interpublic Group of Companies by 21.3% in the 1st quarter. BlackRock Inc. now owns 50,595,126 shares of the business services provider’s stock worth $1,063,001,000 after acquiring an additional 8,893,992 shares during the period. Pzena Investment Management LLC grew its stake in Interpublic Group of Companies by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 16,473,776 shares of the business services provider’s stock worth $346,114,000 after acquiring an additional 374,754 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in Interpublic Group of Companies by 20.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 9,475,275 shares of the business services provider’s stock worth $199,074,000 after acquiring an additional 1,603,251 shares during the period. Geode Capital Management LLC grew its stake in Interpublic Group of Companies by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 5,912,918 shares of the business services provider’s stock worth $121,825,000 after acquiring an additional 479,075 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Interpublic Group of Companies by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,243,313 shares of the business services provider’s stock worth $66,908,000 after acquiring an additional 41,879 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE IPG traded up $0.22 during trading on Monday, hitting $20.32. 45,328 shares of the company traded hands, compared to its average volume of 3,468,350. Interpublic Group of Companies Inc has a 1 year low of $19.56 and a 1 year high of $25.10. The company has a 50-day moving average price of $22.45 and a 200-day moving average price of $22.35. The firm has a market capitalization of $7.58 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.20 and a beta of 1.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.04.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, July 23rd. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Interpublic Group of Companies had a net margin of 6.46% and a return on equity of 32.03%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the company earned $0.43 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts predict that Interpublic Group of Companies Inc will post 1.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders 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 annualized dividend and a dividend yield of 4.63%. Interpublic Group of Companies’s dividend payout ratio is presently 50.54%.

Several analysts have commented on IPG shares. 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 note on Wednesday, July 3rd. BMO Capital Markets lowered 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 note on Wednesday, July 24th. ValuEngine cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. TheStreet cut shares of Interpublic Group of Companies from a “b” rating to a “c+” rating in a research note on Thursday. Finally, Bank of America raised shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $25.71.

In related news, Director H John Greeniaus sold 44,396 shares of Interpublic Group of Companies stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $23.02, for a total transaction of $1,021,995.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Isor Roth sold 431,594 shares of Interpublic Group of Companies stock in a transaction on Monday, July 29th. The shares were sold at an average price of $23.08, for a total transaction of $9,961,189.52. The disclosure for this sale can be found here. 1.09% of the stock is owned by 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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