Victory Capital Management Inc. Sells 700,862 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Victory Capital Management Inc. reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 48.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 760,569 shares of the business services provider’s stock after selling 700,862 shares during the quarter. Victory Capital Management Inc. owned about 0.20% of Interpublic Group of Companies worth $24,825,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Black Creek Investment Management Inc. raised its position in shares of Interpublic Group of Companies by 14.1% during the 3rd quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after buying an additional 1,204,630 shares in the last quarter. American Century Companies Inc. lifted its stake in Interpublic Group of Companies by 24.6% during the third quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock worth $132,852,000 after purchasing an additional 916,574 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Interpublic Group of Companies by 212.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 827,224 shares of the business services provider’s stock valued at $23,708,000 after purchasing an additional 562,823 shares during the last quarter. Gradient Investments LLC raised its holdings in shares of Interpublic Group of Companies by 1,439,200.0% during the 4th quarter. Gradient Investments LLC now owns 503,755 shares of the business services provider’s stock valued at $16,443,000 after buying an additional 503,720 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in Interpublic Group of Companies in the 3rd quarter worth approximately $14,408,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Insider Buying and Selling at Interpublic Group of Companies

In other news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Interpublic Group of Companies news, CEO Philippe Krakowsky sold 150,403 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $4,842,976.60. Following the completion of the transaction, the chief executive officer now owns 415,776 shares in the company, valued at $13,387,987.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christopher F. Carroll sold 18,382 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,646 shares of company stock valued at $8,038,601. 0.42% of the stock is currently owned by company insiders.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $30.96 on Thursday. The business’s 50-day moving average is $31.65 and its 200 day moving average is $31.48. The stock has a market capitalization of $11.69 billion, a PE ratio of 11.02, a PEG ratio of 2.24 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on IPG. UBS Group assumed coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 price target on the stock. Barclays lifted their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Wells Fargo & Company reduced their price objective on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and an average target price of $35.13.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.