Pzena Investment Management LLC Grows Position in Interpublic Group of Companies Inc (NYSE:IPG)

Pzena Investment Management LLC increased its holdings in Interpublic Group of Companies Inc (NYSE:IPG) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,512,831 shares of the business services provider’s stock after acquiring an additional 39,055 shares during the quarter. Interpublic Group of Companies makes up about 2.0% of Pzena Investment Management LLC’s investment portfolio, making the stock its 19th largest position. Pzena Investment Management LLC’s holdings in Interpublic Group of Companies were worth $373,025,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IPG. BlackRock Inc. lifted its position in shares of Interpublic Group of Companies by 21.3% during the first quarter. BlackRock Inc. now owns 50,595,126 shares of the business services provider’s stock valued at $1,063,001,000 after buying an additional 8,893,992 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Interpublic Group of Companies by 20.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,475,275 shares of the business services provider’s stock valued at $199,074,000 after buying an additional 1,603,251 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Interpublic Group of Companies by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 5,912,918 shares of the business services provider’s stock valued at $121,825,000 after buying an additional 479,075 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Interpublic Group of Companies by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,243,313 shares of the business services provider’s stock valued at $66,908,000 after buying an additional 41,879 shares during the last quarter. Finally, Hamlin Capital Management LLC lifted its position in shares of Interpublic Group of Companies by 1.2% during the second quarter. Hamlin Capital Management LLC now owns 2,875,796 shares of the business services provider’s stock valued at $64,964,000 after buying an additional 33,980 shares during the last quarter. 98.86% of the stock is owned by institutional investors.

In other news, Director H John Greeniaus sold 44,396 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $23.02, for a total transaction of $1,021,995.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Isor Roth sold 431,594 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $23.08, for a total transaction of $9,961,189.52. The disclosure for this sale can be found here. Corporate insiders own 1.09% of the company’s stock.

Shares of IPG stock traded up $0.45 during mid-day trading on Friday, hitting $20.02. 101,204 shares of the stock traded hands, compared to its average volume of 3,501,375. The stock has a market cap of $8.06 billion, a P/E ratio of 10.76, a P/E/G ratio of 2.34 and a beta of 1.06. The stock’s fifty day moving average is $22.49 and its two-hundred day moving average is $22.37. Interpublic Group of Companies Inc has a 52-week low of $19.56 and a 52-week high of $25.10. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.97 and a quick ratio of 0.97.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Interpublic Group of Companies had a net margin of 6.46% and a return on equity of 32.03%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Interpublic Group of Companies Inc will post 1.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.235 per share. The ex-dividend date is Friday, August 30th. This represents a $0.94 annualized dividend and a dividend yield of 4.70%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 50.54%.

Several analysts have commented on IPG shares. ValuEngine lowered shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BMO Capital Markets decreased their price target on shares of Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Zacks Investment Research lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research report on Wednesday, July 3rd. Finally, Bank of America raised shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $25.71.

Interpublic Group of Companies Profile

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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