ProShare Advisors LLC Buys 4,800 Shares of Interpublic Group of Companies, Inc. (The) $IPG

ProShare Advisors LLC raised its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 6.9% in the second quarter, HoldingsChannel.com reports. The firm owned 74,791 shares of the business services provider’s stock after purchasing an additional 4,800 shares during the quarter. ProShare Advisors LLC’s holdings in Interpublic Group of Companies were worth $1,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IPG. Parkside Financial Bank & Trust increased its position in shares of Interpublic Group of Companies by 72.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock worth $34,000 after buying an additional 585 shares during the period. Brooklyn Investment Group boosted its position in Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 391 shares during the last quarter. Private Trust Co. NA grew its holdings in Interpublic Group of Companies by 22.9% during the 2nd quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock worth $64,000 after acquiring an additional 485 shares during the period. Assetmark Inc. raised its position in shares of Interpublic Group of Companies by 54.1% in the 2nd quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock worth $75,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Private Wealth Asset Management LLC raised its position in shares of Interpublic Group of Companies by 10.9% in the 2nd quarter. Private Wealth Asset Management LLC now owns 4,060 shares of the business services provider’s stock worth $99,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 1.2%

NYSE IPG opened at $24.77 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The business has a 50 day moving average price of $26.25 and a 200-day moving average price of $25.41. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 20.99 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Monday, November 10th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.19 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. Interpublic Group of Companies’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS. As a group, equities analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

IPG has been the subject of several recent analyst reports. Zacks Research cut Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. UBS Group lowered their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Barclays cut their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.18.

About Interpublic Group of Companies

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.