Cipher Capital LP Trims Stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Cipher Capital LP trimmed its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,206 shares of the business services provider’s stock after selling 3,689 shares during the quarter. Cipher Capital LP’s holdings in Interpublic Group of Companies, Inc. (The) were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Nationwide Fund Advisors raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 1.9% during the first quarter. Nationwide Fund Advisors now owns 111,130 shares of the business services provider’s stock worth $2,730,000 after purchasing an additional 2,028 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 41.4% during the first quarter. Russell Investments Group Ltd. now owns 228,110 shares of the business services provider’s stock worth $5,605,000 after purchasing an additional 66,756 shares during the period. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Interpublic Group of Companies, Inc. (The) during the first quarter worth $209,000. Jennison Associates LLC acquired a new stake in shares of Interpublic Group of Companies, Inc. (The) during the first quarter worth $797,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 2.9% during the first quarter. Great West Life Assurance Co. Can now owns 404,440 shares of the business services provider’s stock worth $9,931,000 after purchasing an additional 11,343 shares during the period. Hedge funds and other institutional investors own 98.01% of the company’s stock.

A number of analysts recently weighed in on IPG shares. Royal Bank Of Canada set a $29.00 price objective on shares of Interpublic Group of Companies, Inc. (The) and gave the stock a “buy” rating in a report on Monday, June 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, May 22nd. Zacks Investment Research raised shares of Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Monday, July 17th. BidaskClub upgraded shares of Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Argus reduced their price objective on shares of Interpublic Group of Companies, Inc. (The) from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.07.

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Interpublic Group of Companies, Inc. (NYSE:IPG) traded down 0.74% during midday trading on Friday, reaching $20.04. 759,529 shares of the company’s stock were exchanged. Interpublic Group of Companies, Inc. has a 12 month low of $19.57 and a 12 month high of $25.71. The company has a 50 day moving average price of $20.70 and a 200 day moving average price of $23.50. The company has a market cap of $7.88 billion, a P/E ratio of 14.43 and a beta of 1.53.

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 EPS for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the business posted $0.33 EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that Interpublic Group of Companies, Inc. will post $1.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.18 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 3.57%. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio is currently 51.80%.

In other news, SVP Ellen Tobi Johnson sold 20,000 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $20.50, for a total value of $410,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Julie Connors sold 5,854 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $24.26, for a total value of $142,018.04. Following the sale, the senior vice president now owns 10,592 shares of the company’s stock, valued at $256,961.92. The disclosure for this sale can be found here. 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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