KLCM Advisors Inc. Reduces Position in Interpublic Group of Companies (IPG)

KLCM Advisors Inc. reduced its position in shares of Interpublic Group of Companies (NYSE:IPG) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 520,000 shares of the business services provider’s stock after selling 25,400 shares during the period. Interpublic Group of Companies comprises approximately 3.2% of KLCM Advisors Inc.’s holdings, making the stock its 13th largest holding. KLCM Advisors Inc. owned about 0.13% of Interpublic Group of Companies worth $11,976,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Interpublic Group of Companies by 34.5% during the 1st quarter. BlackRock Inc. now owns 53,669,637 shares of the business services provider’s stock valued at $1,236,011,000 after acquiring an additional 13,763,034 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Interpublic Group of Companies by 99.2% during the 4th quarter. Pzena Investment Management LLC now owns 17,855,163 shares of the business services provider’s stock valued at $359,960,000 after acquiring an additional 8,890,439 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Interpublic Group of Companies by 32.7% during the 4th quarter. Wells Fargo & Company MN now owns 9,620,910 shares of the business services provider’s stock valued at $193,957,000 after acquiring an additional 2,370,784 shares in the last quarter. Ariel Investments LLC raised its position in shares of Interpublic Group of Companies by 3.6% during the 4th quarter. Ariel Investments LLC now owns 7,975,621 shares of the business services provider’s stock valued at $160,789,000 after acquiring an additional 274,047 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Interpublic Group of Companies by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 7,157,195 shares of the business services provider’s stock valued at $144,290,000 after acquiring an additional 547,757 shares in the last quarter. 99.49% of the stock is currently owned by institutional investors and hedge funds.

In other news, CAO Christopher F. Carroll sold 21,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $23.62, for a total value of $496,020.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Frank Mergenthaler sold 65,536 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $23.41, for a total value of $1,534,197.76. The disclosure for this sale can be found here. Insiders sold 490,223 shares of company stock worth $11,575,541 over the last ninety days. 1.32% of the stock is owned by corporate insiders.

Several research firms recently issued reports on IPG. Wells Fargo & Co reissued a “hold” rating on shares of Interpublic Group of Companies in a research report on Wednesday, February 14th. Zacks Investment Research raised Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, February 13th. Morgan Stanley upped their price target on Interpublic Group of Companies to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Macquarie raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and set a $24.00 target price on the stock in a research report on Friday, February 16th. Finally, ValuEngine lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $25.82.

Shares of Interpublic Group of Companies opened at $23.77 on Wednesday, according to MarketBeat Ratings. Interpublic Group of Companies has a 1-year low of $18.30 and a 1-year high of $26.01. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 2.05 and a beta of 1.30.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Friday, April 27th. The business services provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.02). Interpublic Group of Companies had a return on equity of 26.05% and a net margin of 6.55%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $0.05 earnings per share. Interpublic Group of Companies’s quarterly revenue was up 5.9% on a year-over-year basis. sell-side analysts anticipate that Interpublic Group of Companies will post 1.75 EPS for the current fiscal year.

Interpublic Group of Companies declared that its board has initiated a stock buyback program on Wednesday, February 14th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.

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

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



Leave a Reply