CIBC Asset Management Inc decreased its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 37,065 shares of the business services provider’s stock after selling 271 shares during the period. CIBC Asset Management Inc’s holdings in Interpublic Group of Companies, Inc. (The) were worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of IPG. Nationwide Fund Advisors boosted its position in Interpublic Group of Companies, Inc. (The) by 1.9% in the first quarter. Nationwide Fund Advisors now owns 111,130 shares of the business services provider’s stock valued at $2,730,000 after buying an additional 2,028 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Interpublic Group of Companies, Inc. (The) by 3.8% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 331,925 shares of the business services provider’s stock valued at $8,155,000 after buying an additional 12,117 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Interpublic Group of Companies, Inc. (The) during the first quarter valued at $205,000. Bank of The West purchased a new stake in shares of Interpublic Group of Companies, Inc. (The) during the first quarter valued at $914,000. Finally, DnB Asset Management AS boosted its stake in shares of Interpublic Group of Companies, Inc. (The) by 9.5% in the first quarter. DnB Asset Management AS now owns 42,800 shares of the business services provider’s stock valued at $1,052,000 after buying an additional 3,700 shares during the last quarter. 98.40% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies, Inc. (NYSE IPG) opened at 20.67 on Friday. The stock has a market cap of $8.13 billion, a PE ratio of 14.88 and a beta of 1.53. Interpublic Group of Companies, Inc. has a 12-month low of $20.65 and a 12-month high of $25.71. The firm’s 50-day moving average price is $23.49 and its 200 day moving average price is $24.09.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last posted its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.07. Interpublic Group of Companies, Inc. (The) had a return on equity of 27.72% and a net margin of 7.19%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the firm posted $0.33 earnings per share. Interpublic Group of Companies, Inc. (The)’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts anticipate that Interpublic Group of Companies, Inc. will post $1.43 EPS for the current year.

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Several equities research analysts have commented on IPG shares. Zacks Investment Research downgraded Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BidaskClub raised Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 target price (down previously from $27.00) on shares of Interpublic Group of Companies, Inc. (The) in a report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating and issued a $27.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, June 26th. Finally, Atlantic Securities downgraded Interpublic Group of Companies, Inc. (The) from a “neutral” rating to an “underweight” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $26.21.

In other news, SVP Julie Connors sold 5,854 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $24.26, for a total value of $142,018.04. Following the completion of the sale, the senior vice president now directly owns 10,592 shares in the company, valued at $256,961.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is owned by corporate insiders.

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

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