Great West Life Assurance Co. Can reduced its position in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 10.6% in the third quarter, HoldingsChannel reports. The firm owned 443,066 shares of the business services provider’s stock after selling 52,400 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Interpublic Group of Companies were worth $10,145,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. BancorpSouth Bank increased its stake in Interpublic Group of Companies by 12.4% during the 2nd quarter. BancorpSouth Bank now owns 20,613 shares of the business services provider’s stock valued at $483,000 after purchasing an additional 2,271 shares in the last quarter. Commonwealth Bank of Australia increased its stake in Interpublic Group of Companies by 5.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 49,566 shares of the business services provider’s stock valued at $1,157,000 after purchasing an additional 2,554 shares in the last quarter. Macquarie Group Ltd. increased its stake in Interpublic Group of Companies by 0.6% during the 2nd quarter. Macquarie Group Ltd. now owns 476,222 shares of the business services provider’s stock valued at $11,163,000 after purchasing an additional 2,754 shares in the last quarter. Spectrum Management Group Inc. increased its stake in Interpublic Group of Companies by 2.2% during the 3rd quarter. Spectrum Management Group Inc. now owns 129,715 shares of the business services provider’s stock valued at $2,967,000 after purchasing an additional 2,785 shares in the last quarter. Finally, Alpha Windward LLC increased its stake in Interpublic Group of Companies by 12.4% during the 3rd quarter. Alpha Windward LLC now owns 25,492 shares of the business services provider’s stock valued at $583,000 after purchasing an additional 2,820 shares in the last quarter. Institutional investors and hedge funds own 99.66% of the company’s stock.

Shares of IPG stock opened at $22.95 on Friday. Interpublic Group of Companies Inc has a 52 week low of $18.99 and a 52 week high of $26.01. The company has a market capitalization of $8.91 billion, a PE ratio of 13.40, a P/E/G ratio of 1.80 and a beta of 1.07. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.24 and a quick ratio of 1.24.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Friday, October 19th. The business services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Interpublic Group of Companies had a net margin of 6.62% and a return on equity of 30.99%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Interpublic Group of Companies Inc will post 1.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.66%. Interpublic Group of Companies’s dividend payout ratio is presently 59.57%.

A number of research firms have weighed in on IPG. BMO Capital Markets raised their price objective on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. Citigroup lifted their price target on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. Macquarie upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $24.00 to $25.00 in a research note on Thursday, September 20th. Finally, ValuEngine upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.33.

In related news, Director Jocelyn Carter-Miller sold 8,735 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $23.24, for a total value of $203,001.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director H John Greeniaus sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $23.50, for a total transaction of $117,500.00. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.

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About Interpublic Group of Companies

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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