Comerica Bank cut its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 852,580 shares of the business services provider’s stock after selling 3,297 shares during the quarter. Comerica Bank owned approximately 0.22% of Interpublic Group of Companies, Inc. (The) worth $16,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Interpublic Group of Companies, Inc. (The) by 1.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,203,171 shares of the business services provider’s stock valued at $29,598,000 after purchasing an additional 17,172 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Interpublic Group of Companies, Inc. (The) by 15.2% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,878,350 shares of the business services provider’s stock worth $46,206,000 after acquiring an additional 247,275 shares during the period. Victory Capital Management Inc. lifted its position in Interpublic Group of Companies, Inc. (The) by 4.0% during the 2nd quarter. Victory Capital Management Inc. now owns 6,641,216 shares of the business services provider’s stock worth $163,374,000 after acquiring an additional 253,446 shares during the period. Swiss National Bank lifted its position in Interpublic Group of Companies, Inc. (The) by 1.7% during the 2nd quarter. Swiss National Bank now owns 1,430,790 shares of the business services provider’s stock worth $35,197,000 after acquiring an additional 24,000 shares during the period. Finally, Eaton Vance Management lifted its position in Interpublic Group of Companies, Inc. (The) by 21.6% during the 2nd quarter. Eaton Vance Management now owns 4,909,835 shares of the business services provider’s stock worth $120,782,000 after acquiring an additional 871,099 shares during the period. 97.84% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies, Inc. (IPG) traded down $0.03 during midday trading on Wednesday, reaching $18.64. The company had a trading volume of 4,777,300 shares, compared to its average volume of 4,804,673. Interpublic Group of Companies, Inc. has a 12-month low of $18.46 and a 12-month high of $25.71. The stock has a market cap of $7,255.32, a P/E ratio of 13.53, a P/E/G ratio of 1.15 and a beta of 1.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.63.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). Interpublic Group of Companies, Inc. (The) had a net margin of 7.43% and a return on equity of 27.38%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. equities research analysts anticipate that Interpublic Group of Companies, Inc. will post 1.4 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Interpublic Group of Companies, Inc. (The) (IPG) Shares Sold by Comerica Bank” was published by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/interpublic-group-of-companies-inc-the-ipg-shares-sold-by-comerica-bank/1705027.html.

In related news, SVP Ellen Tobi Johnson sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $20.50, for a total value of $410,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director H John Greeniaus sold 43,479 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $19.00, for a total value of $826,101.00. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.

A number of research firms have weighed in on IPG. Zacks Investment Research cut Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada cut Interpublic Group of Companies, Inc. (The) from a “top pick” rating to a “sector perform” rating and decreased their price objective for the stock from $29.00 to $24.00 in a research report on Wednesday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $24.00 price objective (down from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a research report on Wednesday, July 26th. Telsey Advisory Group decreased their price objective on Interpublic Group of Companies, Inc. (The) from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, July 26th. Finally, BidaskClub cut Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.77.

Interpublic Group of Companies, Inc. (The) 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).

Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies, Inc. (The) (NYSE:IPG).

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

Receive News & Ratings for Interpublic Group of Companies Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies Inc. (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.