HighTower Advisors LLC Sells 22,556 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

HighTower Advisors LLC trimmed its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 20.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 88,525 shares of the business services provider’s stock after selling 22,556 shares during the quarter. HighTower Advisors LLC’s holdings in Interpublic Group of Companies were worth $2,946,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in shares of Interpublic Group of Companies by 1,196.9% during the 1st quarter. First Trust Advisors LP now owns 6,280,702 shares of the business services provider’s stock worth $222,651,000 after buying an additional 5,796,432 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Interpublic Group of Companies by 26.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,082,339 shares of the business services provider’s stock valued at $334,910,000 after buying an additional 2,774,011 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its position in shares of Interpublic Group of Companies by 18.6% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 6,864,901 shares of the business services provider’s stock valued at $175,741,000 after purchasing an additional 1,075,237 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Interpublic Group of Companies by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 47,707,617 shares of the business services provider’s stock valued at $1,691,233,000 after purchasing an additional 1,075,059 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its position in shares of Interpublic Group of Companies by 8,957.2% during the 3rd quarter. Balyasny Asset Management LLC now owns 754,831 shares of the business services provider’s stock valued at $19,323,000 after purchasing an additional 746,497 shares in the last quarter. 96.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America upgraded Interpublic Group of Companies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $38.00 to $40.00 in a report on Thursday, March 30th. JPMorgan Chase & Co. raised their target price on Interpublic Group of Companies from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, January 23rd. Wells Fargo & Company raised their price target on Interpublic Group of Companies from $36.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. BNP Paribas lowered Interpublic Group of Companies from an “outperform” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Wednesday, March 29th. Finally, Barclays dropped their price objective on Interpublic Group of Companies from $42.00 to $40.00 in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.50.

Interpublic Group of Companies Trading Up 0.4 %

NYSE IPG opened at $38.58 on Monday. The Interpublic Group of Companies, Inc. has a 1-year low of $25.14 and a 1-year high of $39.52. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $36.21 and a 200-day moving average of $35.18. The firm has a market cap of $14.89 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.19 billion. Interpublic Group of Companies had a return on equity of 29.28% and a net margin of 8.31%. Interpublic Group of Companies’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.95 EPS for the current year.

Insider Transactions at Interpublic Group of Companies

In other news, Director Dawn E. Hudson sold 5,950 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $33.15, for a total value of $197,242.50. Following the completion of the transaction, the director now owns 26,930 shares of the company’s stock, valued at approximately $892,729.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dawn E. Hudson sold 5,950 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $33.15, for a total value of $197,242.50. Following the sale, the director now owns 26,930 shares in the company, valued at approximately $892,729.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Bonzani sold 38,885 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $35.61, for a total value of $1,384,694.85. Following the sale, the executive vice president now owns 111,769 shares in the company, valued at $3,980,094.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,779 shares of company stock valued at $3,250,936. Corporate insiders own 0.35% of the company’s stock.

Interpublic Group of Companies Profile

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Interpublic Group of Cos., Inc engages in the provision of marketing, communications, and business transformation services. It operates through the following segments: Media, Data, and Engagement Solutions, Integrated Advertising and Creativity Led Solutions, and Specialized Communications and Experiential Solutions.