Fiduciary Management Inc. WI Trims Stake in Interpublic Group of Companies, Inc. (The) (IPG)

Fiduciary Management Inc. WI trimmed its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,424,625 shares of the business services provider’s stock after selling 49,145 shares during the period. Fiduciary Management Inc. WI owned approximately 1.14% of Interpublic Group of Companies worth $91,988,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC lifted its holdings in Interpublic Group of Companies by 755.0% in the second quarter. Acrospire Investment Management LLC now owns 4,506 shares of the business services provider’s stock valued at $111,000 after buying an additional 3,979 shares during the period. Capstone Investment Advisors Netherlands B.V. lifted its holdings in Interpublic Group of Companies by 35.6% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,775 shares of the business services provider’s stock valued at $117,000 after buying an additional 1,254 shares during the period. Global X Management Co. LLC lifted its holdings in Interpublic Group of Companies by 15.4% in the second quarter. Global X Management Co. LLC now owns 6,349 shares of the business services provider’s stock valued at $156,000 after buying an additional 847 shares during the period. IFP Advisors Inc lifted its holdings in Interpublic Group of Companies by 62.7% in the second quarter. IFP Advisors Inc now owns 7,308 shares of the business services provider’s stock valued at $180,000 after buying an additional 2,817 shares during the period. Finally, First Manhattan Co. lifted its holdings in Interpublic Group of Companies by 2.7% in the second quarter. First Manhattan Co. now owns 7,533 shares of the business services provider’s stock valued at $185,000 after buying an additional 195 shares during the period. Institutional investors own 99.97% of the company’s stock.

Interpublic Group of Companies, Inc. (NYSE:IPG) traded down $0.11 on Wednesday, reaching $20.57. 7,624,000 shares of the company’s stock traded hands, compared to its average volume of 4,906,016. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $7,890.00, a price-to-earnings ratio of 14.99, a PEG ratio of 1.28 and a beta of 1.47. Interpublic Group of Companies, Inc. has a 12 month low of $18.30 and a 12 month high of $25.71.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 24th. The business services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.96 billion. Interpublic Group of Companies had a return on equity of 27.38% and a net margin of 7.43%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. research analysts forecast that Interpublic Group of Companies, Inc. will post 1.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, November 30th. Interpublic Group of Companies’s dividend payout ratio is 88.89%.

In other news, Director H John Greeniaus sold 43,479 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $19.00, for a total transaction of $826,101.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.49% of the stock is owned by corporate insiders.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Morgan Stanley restated a “hold” rating on shares of Interpublic Group of Companies in a report on Monday, October 16th. Wells Fargo & Company restated a “buy” rating on shares of Interpublic Group of Companies in a report on Tuesday, October 24th. Pivotal Research restated a “buy” rating and issued a $23.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 24th. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 price objective on shares of Interpublic Group of Companies in a report on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $25.77.

ILLEGAL ACTIVITY NOTICE: This story was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://stocknewstimes.com/2017/12/06/fiduciary-management-inc-wi-trims-stake-in-interpublic-group-of-companies-inc-the-ipg.html.

About Interpublic Group of Companies

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 (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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply