Sumitomo Mitsui Asset Management Company LTD reduced its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 67.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,309 shares of the business services provider’s stock after selling 61,674 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Interpublic Group of Companies, Inc. (The) were worth $745,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp increased its position in Interpublic Group of Companies, Inc. (The) by 6.4% in the first quarter. Van ECK Associates Corp now owns 5,507 shares of the business services provider’s stock valued at $135,000 after buying an additional 331 shares during the last quarter. Global X Management Co. LLC increased its position in Interpublic Group of Companies, Inc. (The) by 29.9% in the first quarter. Global X Management Co. LLC now owns 5,502 shares of the business services provider’s stock valued at $135,000 after buying an additional 1,266 shares during the last quarter. Exane Derivatives increased its position in Interpublic Group of Companies, Inc. (The) by 181.3% in the second quarter. Exane Derivatives now owns 5,634 shares of the business services provider’s stock valued at $139,000 after buying an additional 3,631 shares during the last quarter. First Bank & Trust acquired a new position in Interpublic Group of Companies, Inc. (The) during the first quarter valued at $140,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in Interpublic Group of Companies, Inc. (The) by 120.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,285 shares of the business services provider’s stock valued at $179,000 after buying an additional 3,973 shares during the last quarter. Hedge funds and other institutional investors own 98.40% of the company’s stock.

Shares of Interpublic Group of Companies, Inc. (NYSE:IPG) opened at 21.55 on Tuesday. Interpublic Group of Companies, Inc. has a 12 month low of $20.94 and a 12 month high of $25.71. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 15.51 and a beta of 1.53. The firm’s 50-day moving average is $24.21 and its 200 day moving average is $24.23.

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

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IPG has been the subject of several recent research reports. Wells Fargo & Company reiterated a “buy” rating on shares of Interpublic Group of Companies, Inc. (The) in a research note on Wednesday, April 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $29.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a research note on Tuesday, April 11th. Zacks Investment Research upgraded shares of Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, April 17th. BMO Capital Markets reiterated a “buy” rating and issued a $27.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a research note on Monday, April 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $27.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a research note on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.21.

In other Interpublic Group of Companies, Inc. (The) news, SVP Julie Connors sold 5,854 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $24.26, for a total transaction of $142,018.04. Following the completion of the sale, the senior vice president now directly owns 10,592 shares of the company’s stock, valued at approximately $256,961.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.49% of the company’s stock.

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).

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

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