Sciencast Management LP Buys Shares of 35,067 Interpublic Group of Companies Inc (IPG)

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Sciencast Management LP bought a new position in shares of Interpublic Group of Companies Inc (NYSE:IPG) during the first quarter, HoldingsChannel reports. The firm bought 35,067 shares of the business services provider’s stock, valued at approximately $760,000.

Several other large investors have also made changes to their positions in IPG. Lunia Capital LP boosted its position in shares of Interpublic Group of Companies by 1,691.7% during the 4th quarter. Lunia Capital LP now owns 11,089,594 shares of the business services provider’s stock worth $11,090,000 after acquiring an additional 10,470,666 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Interpublic Group of Companies by 88.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,872,024 shares of the business services provider’s stock worth $162,400,000 after acquiring an additional 3,705,058 shares in the last quarter. Northern Trust Corp lifted its stake in Interpublic Group of Companies by 37.2% in the 4th quarter. Northern Trust Corp now owns 6,407,950 shares of the business services provider’s stock valued at $132,196,000 after purchasing an additional 1,737,926 shares during the last quarter. Geode Capital Management LLC lifted its stake in Interpublic Group of Companies by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 5,912,918 shares of the business services provider’s stock valued at $121,825,000 after purchasing an additional 479,075 shares during the last quarter. Finally, Boston Partners lifted its stake in Interpublic Group of Companies by 3.9% in the 4th quarter. Boston Partners now owns 5,911,557 shares of the business services provider’s stock valued at $121,955,000 after purchasing an additional 224,094 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

IPG has been the subject of several recent analyst reports. Royal Bank of Canada cut shares of Interpublic Group of Companies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $28.00 to $24.00 in a research report on Thursday, January 17th. Pivotal Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $22.00 to $25.00 in a research report on Monday, January 7th. Zacks Investment Research cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Finally, ValuEngine cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.44.

In other news, EVP Philippe Krakowsky sold 45,867 shares of Interpublic Group of Companies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $22.95, for a total transaction of $1,052,647.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher F. Carroll sold 18,000 shares of Interpublic Group of Companies stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $22.95, for a total transaction of $413,100.00. The disclosure for this sale can be found here. Insiders sold 346,386 shares of company stock valued at $7,946,717 over the last 90 days. Corporate insiders own 1.32% of the company’s stock.

NYSE:IPG opened at $22.30 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 4.38 and a beta of 1.05. Interpublic Group of Companies Inc has a 12 month low of $19.61 and a 12 month high of $25.77.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, February 13th. The business services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Interpublic Group of Companies had a net margin of 6.37% and a return on equity of 32.07%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted $0.79 earnings per share. As a group, research analysts anticipate that Interpublic Group of Companies Inc will post 1.87 EPS for the current year.

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About Interpublic Group of Companies

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.

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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 (NYSE:IPG).

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

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