Bailard Inc. buys 2,370 shares of The Interpublic Group of Companies, Inc. (NYSE: IPG)


Bailard Inc. increased its stake in The Interpublic Group of Companies, Inc. (NYSE: IPG – Get Rating) by 26.6% in Q1, according to the company in its latest 13F filing with the Securities & Exchange Commission. The company held 11,264 shares of the business services provider after buying an additional 2,370 shares during the quarter. Bailard Inc.’s holdings in Interpublic Group of Companies were worth $399,000 when it last filed with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently changed their holdings in the company. BlackRock Inc. increased its stake in Interpublic Group of Companies by 1.1% in the 4th quarter. BlackRock Inc. now owns 40,390,818 shares of the business services provider worth $1,512,636,000 after purchasing an additional 426,489 shares during the period. State Street Corp increased its stake in Interpublic Group of Companies by 4.3% in the fourth quarter. State Street Corp now owns 21,776,352 shares of the business services provider worth $815,524,000 after purchasing an additional 899,103 shares during the period. Black Creek Investment Management Inc. increased its holdings of Interpublic Group of Companies stock by 7.0% in the fourth quarter. Black Creek Investment Management Inc. now owns 11,803,144 shares of the business services provider valued at $442,028,000 after acquiring an additional 775,502 shares last quarter. Geode Capital Management LLC increased its equity stake in Interpublic Group of Companies by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 8,198,539 shares of the business services provider valued at $306,584,000 after acquiring an additional 176,769 shares last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Interpublic Group of Companies by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,854,570 shares of the business services provider valued at $256,704,000 after acquiring an additional 188,542 shares last quarter. Institutional investors and hedge funds own 99.68% of the company’s shares.

NYSE IPG shares opened at $28.18 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt ratio of 0.82. The stock’s 50-day moving average is $30.02 and its 200-day moving average is $33.79. The stock has a market capitalization of $11.09 billion, a price/earnings ratio of 11.01, a P/E/G ratio of 7.97 and a beta of 1.03. The Interpublic Group of Companies, Inc. has a 1-year low of $26.36 and a 1-year high of $39.98.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last announced its quarterly results on Thursday, April 28. The business services provider reported EPS of $0.47 for the quarter, beating analyst consensus estimates of $0.40 by $0.07. The company posted revenue of $2.23 billion for the quarter, versus $2.17 billion expected by analysts. Interpublic Group of Companies achieved a return on equity of 31.10% and a net margin of 9.67%. The company’s quarterly revenue increased 9.8% year over year. During the same period of the previous year, the company achieved EPS of $0.45. On average, analysts expect The Interpublic Group of Companies, Inc. to post EPS of 2.7 for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 21. Shareholders of record on Monday, June 6 received a dividend of $0.29. The ex-dividend date was Friday, June 3. This represents a dividend of $1.16 on an annualized basis and a dividend yield of 4.12%. The Interpublic Group of Companies’ dividend payout ratio is currently 45.31%.

In other news, Director Dawn E. Hudson sold 18,376 shares of Interpublic Group of Companies in a trade that took place on Monday, May 9. The stock was sold at an average price of $32.45, for a total value of $596,301.20. As a result of the sale, the administrator now directly owns 32,880 shares of the company, valued at approximately $1,066,956. The sale was disclosed in a filing with the SEC, which is available via this link. Additionally, director Mary Guilfoile sold 6,301 shares of Interpublic Group of Companies in a trade that took place on Friday, May 6. The stock was sold at an average price of $32.41, for a total value of $204,215.41. Following the completion of the sale, the administrator now owns 102,803 shares of the company, valued at $3,331,845.23. The disclosure of this sale can be found here. 0.33% of the shares are currently held by insiders of the company.

IPG has been the subject of several recent analyst reports. Citigroup lowered its price target on Interpublic Group of Companies from $43.00 to $33.00 and set a “buy” rating on the stock in a report released Thursday. StockNews.com launched coverage on Interpublic Group of Companies in a Thursday, March 31 report. They issued a “holding” rating on the stock. Argus upgraded Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a price target of $41.00 on the stock in a Monday, March 21 report. Macquarie upgraded Interpublic Group of Companies from an “outperforming” rating to a “neutral” rating in a Thursday, June 23 report. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from a “weighted” rating to an “overweight” rating and lowered its price target for the company from $40.00 to $33.00 in a report released Friday. . One analyst rated the security with a sell rating, five assigned a hold rating and five assigned a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.50.

Company Profile Interpublic Group of Companies (Get a rating)

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The Company offers consumer advertising, digital marketing, communications planning and media buying, public relations and specialty communications, and data science services.

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Institutional ownership by quarter for Interpublic Group of Companies (NYSE:IPG)



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