Pacer Advisors Inc. Raises Holdings in Interpublic Group of Companies Inc (NYSE:IPG)

Pacer Advisors Inc. lifted its holdings in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,741 shares of the business services provider’s stock after purchasing an additional 14,627 shares during the period. Pacer Advisors Inc.’s holdings in Interpublic Group of Companies were worth $2,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IPG. Norges Bank purchased a new stake in Interpublic Group of Companies in the 4th quarter worth approximately $90,841,000. Prudential PLC purchased a new stake in Interpublic Group of Companies in the 1st quarter worth approximately $61,243,000. Principal Financial Group Inc. grew its stake in Interpublic Group of Companies by 174.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,886,569 shares of the business services provider’s stock worth $46,731,000 after acquiring an additional 1,834,464 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $27,803,000. Finally, JPMorgan Chase & Co. grew its stake in Interpublic Group of Companies by 192.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,030,406 shares of the business services provider’s stock worth $32,874,000 after acquiring an additional 1,335,240 shares during the period. 99.75% of the stock is owned by institutional investors and hedge funds.

Shares of IPG stock opened at $18.05 on Friday. Interpublic Group of Companies Inc has a 12 month low of $11.63 and a 12 month high of $25.20. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $7.03 billion, a P/E ratio of 15.70 and a beta of 1.05. The company’s fifty day moving average price is $17.39 and its two-hundred day moving average price is $18.47.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Interpublic Group of Companies had a net margin of 4.66% and a return on equity of 25.37%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue was down 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Interpublic Group of Companies Inc will post 1.42 EPS for the current year.

Several analysts have recently issued reports on IPG shares. Citigroup lowered their price objective on shares of Interpublic Group of Companies from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Wolfe Research started coverage on shares of Interpublic Group of Companies in a research note on Thursday, July 23rd. They set a “market perform” rating and a $20.00 price objective for the company. Cfra lowered their price objective on shares of Interpublic Group of Companies from $25.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Finally, Morgan Stanley lowered their price objective on shares of Interpublic Group of Companies from $26.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Interpublic Group of Companies 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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