Alliancebernstein L.P. Has $17.16 Million Position in Interpublic Group of Companies, Inc. (The) (IPG)

Alliancebernstein L.P. cut its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 39.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698,336 shares of the business services provider’s stock after selling 446,366 shares during the period. Alliancebernstein L.P. owned about 0.18% of Interpublic Group of Companies, Inc. (The) worth $17,158,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in Interpublic Group of Companies, Inc. (The) during the fourth quarter valued at about $3,815,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Interpublic Group of Companies, Inc. (The) during the fourth quarter valued at about $210,000. Comerica Bank raised its stake in Interpublic Group of Companies, Inc. (The) by 0.3% in the fourth quarter. Comerica Bank now owns 200,123 shares of the business services provider’s stock valued at $4,718,000 after buying an additional 548 shares during the last quarter. State Street Corp raised its stake in Interpublic Group of Companies, Inc. (The) by 4.5% in the fourth quarter. State Street Corp now owns 17,533,541 shares of the business services provider’s stock valued at $410,459,000 after buying an additional 761,962 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Interpublic Group of Companies, Inc. (The) during the fourth quarter valued at about $230,000. 98.92% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Interpublic Group of Companies, Inc. (NYSE:IPG) traded up 0.16% on Friday, hitting $24.41. 4,328,014 shares of the stock traded hands. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 15.87 and a beta of 1.55. The firm’s 50 day moving average is $24.35 and its 200 day moving average is $24.13. Interpublic Group of Companies, Inc. has a 52 week low of $21.67 and a 52 week high of $25.34.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last posted its earnings results on Friday, April 21st. The business services provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Interpublic Group of Companies, Inc. (The) had a net margin of 7.95% and a return on equity of 29.00%. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts anticipate that Interpublic Group of Companies, Inc. will post $1.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 19th. Stockholders of record on Monday, June 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, June 1st. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio is presently 47.06%.

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IPG has been the subject of several analyst reports. Bank of America Corporation initiated coverage on shares of Interpublic Group of Companies, Inc. (The) in a research note on Thursday, March 2nd. They issued a “buy” rating and a $28.00 price objective for the company. Zacks Investment Research lowered shares of Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. Royal Bank Of Canada reissued a “buy” rating and set a $29.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a research report on Tuesday, April 11th. Wells Fargo & Company reissued a “buy” rating on shares of Interpublic Group of Companies, Inc. (The) in a research report on Wednesday, April 12th. Finally, Wedbush reissued an “outperform” rating and set a $29.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a research report on Thursday, April 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $26.92.

Interpublic Group of Companies, Inc. (The) Company Profile

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).

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