BlackRock Inc. Purchases 32,879,667 Shares of Interpublic Group of Companies, Inc. (The) (IPG)

BlackRock Inc. raised its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 1,377.1% during the first quarter, Holdings Channel reports. The fund owned 35,267,293 shares of the business services provider’s stock after buying an additional 32,879,667 shares during the period. BlackRock Inc. owned 0.09% of Interpublic Group of Companies, Inc. (The) worth $866,520,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Interpublic Group of Companies, Inc. (The) by 12.7% in the fourth quarter. Van ECK Associates Corp now owns 5,176 shares of the business services provider’s stock worth $121,000 after buying an additional 582 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of 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 worth $135,000 after buying an additional 1,266 shares during the last quarter. First Bank & Trust acquired a new stake in shares of Interpublic Group of Companies, Inc. (The) during the first quarter worth approximately $140,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of 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 worth $179,000 after buying an additional 3,973 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC increased its stake in shares of Interpublic Group of Companies, Inc. (The) by 77.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 7,427 shares of the business services provider’s stock worth $182,000 after buying an additional 3,239 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

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

Interpublic Group of Companies, Inc. (NYSE:IPG) traded down 1.477% during trading on Tuesday, hitting $24.483. The stock had a trading volume of 1,899,590 shares. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 15.919 and a beta of 1.55. The company has a 50-day moving average price of $24.39 and a 200-day moving average price of $24.13. Interpublic Group of Companies, Inc. has a 52-week low of $21.67 and a 52-week high of $25.34.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last posted its quarterly earnings data on Friday, April 21st. The business services provider reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Interpublic Group of Companies, Inc. (The) had a return on equity of 29.00% and a net margin of 7.95%. Interpublic Group of Companies, Inc. (The)’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that Interpublic Group of Companies, Inc. will post $1.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 19th. Stockholders of record on Monday, June 5th were paid a $0.18 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 2.90%. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio (DPR) is 47.06%.

WARNING: “BlackRock Inc. Purchases 32,879,667 Shares of Interpublic Group of Companies, Inc. (The) (IPG)” was originally published by Ticker Report and is the property of of Ticker Report. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/2656181/blackrock-inc-purchases-32879667-shares-of-interpublic-group-of-companies-inc-the-ipg.html.

A number of brokerages recently commented on IPG. Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Interpublic Group of Companies, Inc. (The) in a research report on Thursday, April 13th. BMO Capital Markets reaffirmed a “buy” rating and set a $27.00 price target on shares of Interpublic Group of Companies, Inc. (The) in a research report on Monday, April 17th. Zacks Investment Research downgraded Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. Bank of America Corporation began coverage on Interpublic Group of Companies, Inc. (The) in a research report on Thursday, March 2nd. They set a “buy” rating and a $28.00 price target for the company. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Interpublic Group of Companies, Inc. (The) in a report on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Interpublic Group of Companies, Inc. (The) presently has a consensus rating of “Buy” and a consensus target price of $26.92.

About Interpublic Group of Companies, Inc. (The)

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).

Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies, Inc. (The) (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

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Blue Apron Filed Thursday for Public Offering
Blue Apron Filed Thursday for Public Offering
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Large Auto Lender Checked Just 8% of Incomes for Applicants
Large Auto Lender Checked Just 8% of Incomes for Applicants


Leave a Reply

© 2006-2017 Ticker Report. Google+.