Royal Bank of Canada reduced its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 10.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 946,008 shares of the business services provider’s stock after selling 105,871 shares during the period. Royal Bank of Canada owned about 0.24% of Interpublic Group of Companies, Inc. (The) worth $23,271,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC increased its stake in shares of Interpublic Group of Companies, Inc. (The) by 755.0% in the second quarter. Acrospire Investment Management LLC now owns 4,506 shares of the business services provider’s stock worth $111,000 after purchasing an additional 3,979 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. increased its stake in shares of Interpublic Group of Companies, Inc. (The) by 35.6% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,775 shares of the business services provider’s stock worth $117,000 after purchasing an additional 1,254 shares in 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 purchasing an additional 1,266 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Interpublic Group of Companies, Inc. (The) by 6.4% in the first quarter. Van ECK Associates Corp now owns 5,507 shares of the business services provider’s stock worth $135,000 after purchasing an additional 331 shares in the last quarter. Finally, Exane Derivatives increased its stake in shares of Interpublic Group of Companies, Inc. (The) by 181.3% in the second quarter. Exane Derivatives now owns 5,634 shares of the business services provider’s stock worth $139,000 after purchasing an additional 3,631 shares in the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Ellen Tobi Johnson sold 20,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $20.50, for a total value of $410,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.49% of the company’s stock.

A number of analysts have recently issued reports on IPG shares. Royal Bank Of Canada set a $24.00 price objective on shares of Interpublic Group of Companies, Inc. (The) and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Jefferies Group LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a research note on Monday, June 26th. Citigroup Inc. raised shares of Interpublic Group of Companies, Inc. (The) from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 6th. 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 for the company in a research note on Monday, July 17th. Finally, Pivotal Research raised shares of Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $25.69.

Shares of Interpublic Group of Companies, Inc. (IPG) opened at 20.99 on Wednesday. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 15.11 and a beta of 1.53. The stock has a 50 day moving average of $20.55 and a 200 day moving average of $23.04. Interpublic Group of Companies, Inc. has a 12-month low of $19.57 and a 12-month high of $25.71.

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 earnings per share (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 analysts’ expectations of $1.95 billion. During the same period in the prior year, the company posted $0.33 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts predict that Interpublic Group of Companies, Inc. will post $1.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Wednesday, August 30th. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio is currently 51.80%.

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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).

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

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