Victory Capital Management Inc. Boosts Stake in Interpublic Group of Companies Inc (NYSE:IPG)

Victory Capital Management Inc. raised its position in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,520,623 shares of the business services provider’s stock after acquiring an additional 719,236 shares during the period. Victory Capital Management Inc. owned approximately 1.68% of Interpublic Group of Companies worth $147,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IPG. BlackRock Inc. grew its position in Interpublic Group of Companies by 21.3% during the first quarter. BlackRock Inc. now owns 50,595,126 shares of the business services provider’s stock valued at $1,063,001,000 after acquiring an additional 8,893,992 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Interpublic Group of Companies by 20.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,475,275 shares of the business services provider’s stock valued at $199,074,000 after acquiring an additional 1,603,251 shares during the period. Ceredex Value Advisors LLC grew its position in Interpublic Group of Companies by 73.1% during the first quarter. Ceredex Value Advisors LLC now owns 1,949,800 shares of the business services provider’s stock valued at $40,966,000 after acquiring an additional 823,550 shares during the period. Vanguard Group Inc. grew its position in Interpublic Group of Companies by 1.9% during the second quarter. Vanguard Group Inc. now owns 43,040,858 shares of the business services provider’s stock valued at $972,293,000 after acquiring an additional 792,701 shares during the period. Finally, AQR Capital Management LLC grew its position in Interpublic Group of Companies by 70.7% during the second quarter. AQR Capital Management LLC now owns 1,497,492 shares of the business services provider’s stock valued at $33,828,000 after acquiring an additional 619,984 shares during the period. 98.00% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE IPG traded down $0.16 on Friday, hitting $21.16. The company had a trading volume of 4,155,581 shares, compared to its average volume of 2,966,797. Interpublic Group of Companies Inc has a 12-month low of $19.56 and a 12-month high of $25.10. The business has a 50 day moving average of $20.70 and a two-hundred day moving average of $21.96. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $8.26 billion, a P/E ratio of 11.38, a PEG ratio of 2.40 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, July 23rd. The business services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Interpublic Group of Companies had a return on equity of 32.03% and a net margin of 6.46%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Interpublic Group of Companies Inc will post 1.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, August 30th. Interpublic Group of Companies’s payout ratio is 50.54%.

In other news, Director H John Greeniaus sold 44,396 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $23.02, for a total value of $1,021,995.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Isor Roth sold 431,594 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $23.08, for a total value of $9,961,189.52. The disclosure for this sale can be found here. 1.09% of the stock is owned by corporate insiders.

IPG has been the subject of a number of research reports. TheStreet downgraded Interpublic Group of Companies from a “b” rating to a “c+” rating in a research report on Thursday, August 15th. ValuEngine downgraded Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research report on Wednesday, July 3rd. Bank of America raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets decreased their target price on Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Interpublic Group of Companies currently has an average rating of “Hold” and an average price target of $25.83.

About Interpublic Group of Companies

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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