Interpublic Group of Companies Inc (NYSE:IPG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its holdings in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 23.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,367,321 shares of the business services provider’s stock after selling 710,996 shares during the period. Bank of America Corp DE owned about 0.61% of Interpublic Group of Companies worth $40,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IPG. Kore Private Wealth LLC grew its holdings in shares of Interpublic Group of Companies by 109.2% during the second quarter. Kore Private Wealth LLC now owns 2,548 shares of the business services provider’s stock worth $43,000 after buying an additional 1,330 shares in the last quarter. Redwood Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies during the second quarter worth about $579,000. Holocene Advisors LP grew its holdings in shares of Interpublic Group of Companies by 434.2% during the second quarter. Holocene Advisors LP now owns 1,000,925 shares of the business services provider’s stock worth $17,176,000 after buying an additional 813,542 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Interpublic Group of Companies by 5.7% during the second quarter. APG Asset Management N.V. now owns 517,536 shares of the business services provider’s stock worth $7,907,000 after buying an additional 28,100 shares in the last quarter. Finally, Cpwm LLC purchased a new stake in shares of Interpublic Group of Companies during the second quarter worth about $580,000. Institutional investors own 98.58% of the company’s stock.

Separately, Wolfe Research began coverage on shares of Interpublic Group of Companies in a report on Thursday, July 23rd. They set a “market perform” rating and a $20.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.00.

Interpublic Group of Companies stock opened at $18.05 on Wednesday. Interpublic Group of Companies Inc has a 1 year low of $11.63 and a 1 year high of $25.20. The firm has a 50 day moving average price of $18.19 and a 200 day moving average price of $17.19. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 10.41 and a beta of 0.98. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 0.98.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, July 29th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating 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 25.72%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. Interpublic Group of Companies’s revenue was down 12.8% compared to the same quarter last year. Sell-side analysts predict that Interpublic Group of Companies Inc will post 1.5 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.02 dividend on an annualized basis and a yield of 5.65%. Interpublic Group of Companies’s payout ratio is 52.85%.

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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