Interpublic Group of Companies Inc (NYSE:IPG) Shares Sold by Northern Trust Corp

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Northern Trust Corp lowered its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 16.2% in the first quarter, Holdings Channel reports. The institutional investor owned 5,371,384 shares of the business services provider’s stock after selling 1,036,566 shares during the period. Northern Trust Corp’s holdings in Interpublic Group of Companies were worth $112,853,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Interpublic Group of Companies by 21.3% during the first quarter. BlackRock Inc. now owns 50,595,126 shares of the business services provider’s stock valued at $1,063,001,000 after buying an additional 8,893,992 shares during the last quarter. Pzena Investment Management LLC increased its stake in Interpublic Group of Companies by 2.3% in the first quarter. Pzena Investment Management LLC now owns 16,473,776 shares of the business services provider’s stock valued at $346,114,000 after acquiring an additional 374,754 shares during the period. Lunia Capital LP increased its stake in Interpublic Group of Companies by 1,691.7% in the fourth quarter. Lunia Capital LP now owns 11,089,594 shares of the business services provider’s stock valued at $11,090,000 after acquiring an additional 10,470,666 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Interpublic Group of Companies by 88.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 7,872,024 shares of the business services provider’s stock valued at $162,400,000 after acquiring an additional 3,705,058 shares during the period. Finally, Geode Capital Management LLC increased its stake in Interpublic Group of Companies by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 5,912,918 shares of the business services provider’s stock valued at $121,825,000 after acquiring an additional 479,075 shares during the period. 99.32% of the stock is owned by institutional investors and hedge funds.

Shares of Interpublic Group of Companies stock opened at $22.27 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.56. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 3.60 and a beta of 1.06. Interpublic Group of Companies Inc has a 1-year low of $19.61 and a 1-year high of $25.10.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Friday, April 26th. The business services provider reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Interpublic Group of Companies had a net margin of 6.31% and a return on equity of 32.74%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, equities analysts anticipate that Interpublic Group of Companies Inc will post 1.9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, May 31st. This represents a $0.94 annualized dividend and a yield of 4.22%. Interpublic Group of Companies’s dividend payout ratio is 50.54%.

Separately, ValuEngine cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $25.38.

In other news, Director David M. Thomas acquired 8,650 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average cost of $23.12 per share, with a total value of $199,988.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.09% of the stock is currently owned by corporate insiders.

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Interpublic Group of Companies Company 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.

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

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