Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) during the second quarter, HoldingsChannel.com reports. The fund bought 26,400 shares of the business services provider’s stock, valued at approximately $619,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. PEAK6 Investments L.P. grew its position in shares of Interpublic Group of Companies by 45.8% in the 2nd quarter. PEAK6 Investments L.P. now owns 71,103 shares of the business services provider’s stock worth $1,667,000 after buying an additional 22,333 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Interpublic Group of Companies in the 2nd quarter worth approximately $372,000. Macquarie Group Ltd. grew its position in shares of Interpublic Group of Companies by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 476,222 shares of the business services provider’s stock worth $11,163,000 after buying an additional 2,754 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Interpublic Group of Companies by 237.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,363 shares of the business services provider’s stock worth $1,251,000 after buying an additional 37,563 shares during the last quarter. Finally, Natixis purchased a new position in shares of Interpublic Group of Companies in the 2nd quarter worth approximately $939,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the stock. ValuEngine raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Pivotal Research cut their price objective on shares of Interpublic Group of Companies from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, July 3rd. Zacks Investment Research downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Monday, May 28th. Finally, Macquarie raised shares of Interpublic Group of Companies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $24.00 to $25.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.20.

IPG stock opened at $23.18 on Friday. The company has a market capitalization of $8.90 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.75 and a beta of 1.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.61. Interpublic Group of Companies Inc has a 52 week low of $18.30 and a 52 week high of $26.01.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, July 24th. The business services provider reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Interpublic Group of Companies had a net margin of 6.75% and a return on equity of 28.53%. Interpublic Group of Companies’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. equities research analysts forecast that Interpublic Group of Companies Inc will post 1.72 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Friday, August 31st. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 59.57%.

In related news, CFO Frank Mergenthaler sold 50,000 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $22.46, for a total value of $1,123,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is owned by company insiders.

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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