Financial Advisors Network Inc. Makes New Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Financial Advisors Network Inc. acquired a new position in The Interpublic Group of Companies, Inc. (NYSE:IPGFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,563 shares of the business services provider’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Black Creek Investment Management Inc. increased its holdings in Interpublic Group of Companies by 14.1% in the 3rd quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after buying an additional 1,204,630 shares during the period. Norges Bank bought a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at approximately $32,620,000. American Century Companies Inc. grew its holdings in shares of Interpublic Group of Companies by 24.6% during the 3rd quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock valued at $132,852,000 after purchasing an additional 916,574 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Interpublic Group of Companies by 212.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 827,224 shares of the business services provider’s stock valued at $23,708,000 after purchasing an additional 562,823 shares during the last quarter. Finally, Gradient Investments LLC grew its holdings in shares of Interpublic Group of Companies by 1,439,200.0% during the 4th quarter. Gradient Investments LLC now owns 503,755 shares of the business services provider’s stock valued at $16,443,000 after purchasing an additional 503,720 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 0.5 %

IPG stock traded down $0.16 during midday trading on Thursday, reaching $31.74. 598,674 shares of the company’s stock traded hands, compared to its average volume of 3,831,326. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 2.88 and a beta of 1.13. The firm’s fifty day moving average price is $31.54 and its 200-day moving average price is $31.71. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 52 week low of $27.20 and a 52 week high of $40.95.

Interpublic Group of Companies (NYSE:IPGGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the business posted $0.38 EPS. Interpublic Group of Companies’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Interpublic Group of Companies

In related news, EVP Andrew Bonzani sold 40,468 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the completion of the transaction, the executive vice president now owns 70,431 shares in the company, valued at $2,267,878.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Christopher F. Carroll sold 18,382 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the transaction, the chief accounting officer now directly owns 42,390 shares in the company, valued at $1,364,958. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Bonzani sold 40,468 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the completion of the transaction, the executive vice president now owns 70,431 shares of the company’s stock, valued at $2,267,878.20. The disclosure for this sale can be found here. Insiders sold a total of 249,646 shares of company stock worth $8,038,601 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IPG. Barclays lifted their price target on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, Wells Fargo & Company cut their target price on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $35.13.

Read Our Latest Research Report on Interpublic Group of Companies

Interpublic Group of Companies Profile

(Free Report)

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.

Further Reading

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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