M&T Bank Corp reduced its position in shares of Interpublic Group of Cos. (NYSE:IPG) by 34.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,821 shares of the company’s stock after selling 84,415 shares during the period. M&T Bank Corp’s holdings in Interpublic Group of Cos. were worth $3,550,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Washington Trust Bank raised its stake in Interpublic Group of Cos. by 495.3% in the second quarter. Washington Trust Bank now owns 4,465 shares of the company’s stock worth $103,000 after buying an additional 3,715 shares in the last quarter. Signaturefd LLC increased its position in Interpublic Group of Cos. by 1.1% in the second quarter. Signaturefd LLC now owns 4,490 shares of the company’s stock worth $104,000 after buying an additional 50 shares during the last quarter. Quadrant Capital Group LLC increased its position in Interpublic Group of Cos. by 2.8% in the second quarter. Quadrant Capital Group LLC now owns 4,961 shares of the company’s stock worth $113,000 after buying an additional 133 shares during the last quarter. Cornerstone Advisors Inc. increased its position in Interpublic Group of Cos. by 5,388.3% in the third quarter. Cornerstone Advisors Inc. now owns 5,159 shares of the company’s stock worth $115,000 after buying an additional 5,065 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. increased its position in Interpublic Group of Cos. by 99.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,239 shares of the company’s stock worth $121,000 after buying an additional 2,608 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

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

Interpublic Group of Cos. (NYSE:IPG) traded down 1.11% during mid-day trading on Wednesday, hitting $24.07. 2,990,404 shares of the stock traded hands. The firm has a market cap of $9.56 billion, a P/E ratio of 18.00 and a beta of 1.59. Interpublic Group of Cos. has a 52-week low of $19.79 and a 52-week high of $24.82. The firm’s 50-day moving average is $22.82 and its 200 day moving average is $23.09.

Interpublic Group of Cos. (NYSE:IPG) last released its quarterly earnings results on Friday, October 21st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Interpublic Group of Cos. had a net margin of 7.09% and a return on equity of 26.70%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts predict that Interpublic Group of Cos. will post $1.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, November 29th. Interpublic Group of Cos.’s dividend payout ratio (DPR) is currently 44.78%.

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A number of research firms recently issued reports on IPG. Albert Fried & Company reiterated a “hold” rating and set a $23.00 target price on shares of Interpublic Group of Cos. in a research report on Thursday, October 27th. Wedbush reiterated an “outperform” rating and set a $28.00 target price on shares of Interpublic Group of Cos. in a research report on Friday, October 21st. Pivotal Research boosted their target price on shares of Interpublic Group of Cos. from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 17th. Royal Bank Of Canada began coverage on shares of Interpublic Group of Cos. in a research report on Friday, October 7th. They set a “top pick” rating and a $27.00 target price on the stock. Finally, RBC Capital Markets began coverage on shares of Interpublic Group of Cos. in a research report on Thursday, October 6th. They set a “top pick” rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $26.50.

In related news, SVP Ellen Tobi Johnson sold 35,765 shares of Interpublic Group of Cos. stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $22.69, for a total value of $811,507.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.75% of the stock is currently owned by corporate insiders.

About Interpublic Group of Cos.

The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

5 Day Chart for NYSE:IPG

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