Balentine LLC Has $294,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Balentine LLC trimmed its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 40.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,007 shares of the business services provider’s stock after selling 6,219 shares during the quarter. Balentine LLC’s holdings in Interpublic Group of Companies were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Marino Stram & Associates LLC increased its position in Interpublic Group of Companies by 1.2% during the fourth quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider’s stock worth $870,000 after acquiring an additional 315 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Interpublic Group of Companies by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after purchasing an additional 327 shares in the last quarter. Simplicity Solutions LLC increased its position in shares of Interpublic Group of Companies by 4.6% in the fourth quarter. Simplicity Solutions LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after purchasing an additional 327 shares during the period. Lindbrook Capital LLC increased its position in shares of Interpublic Group of Companies by 16.3% in the fourth quarter. Lindbrook Capital LLC now owns 2,748 shares of the business services provider’s stock worth $90,000 after purchasing an additional 385 shares during the period. Finally, Keybank National Association OH lifted its position in Interpublic Group of Companies by 3.3% during the third quarter. Keybank National Association OH now owns 12,000 shares of the business services provider’s stock worth $344,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $31.91 on Thursday. The company has a market cap of $12.04 billion, a P/E ratio of 11.35, a PEG ratio of 2.88 and a beta of 1.13. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $31.54 and a two-hundred day moving average price of $31.71. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.18 billion. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Philippe Krakowsky sold 150,403 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the transaction, the chief executive officer now owns 415,776 shares of the company’s stock, valued at approximately $13,387,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Philippe Krakowsky sold 150,403 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the transaction, the chief executive officer now directly owns 415,776 shares of the company’s stock, valued at approximately $13,387,987.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,300,654.60. Following the sale, the chief financial officer now owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,646 shares of company stock worth $8,038,601. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IPG. JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Barclays raised their price objective on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company lowered their target price on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $35.13.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.