Nuveen Asset Management LLC Buys New Position in Interpublic Group of Companies Inc (IPG)

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Nuveen Asset Management LLC bought a new stake in Interpublic Group of Companies Inc (NYSE:IPG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,193 shares of the business services provider’s stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Weik Capital Management lifted its stake in Interpublic Group of Companies by 8.3% in the 1st quarter. Weik Capital Management now owns 27,300 shares of the business services provider’s stock valued at $629,000 after acquiring an additional 2,100 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Interpublic Group of Companies by 14.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,579 shares of the business services provider’s stock worth $428,000 after purchasing an additional 2,396 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Interpublic Group of Companies by 15.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,515 shares of the business services provider’s stock worth $414,000 after purchasing an additional 2,792 shares in the last quarter. Amalgamated Bank raised its stake in shares of Interpublic Group of Companies by 3.5% during the 4th quarter. Amalgamated Bank now owns 83,110 shares of the business services provider’s stock worth $1,675,000 after purchasing an additional 2,814 shares in the last quarter. Finally, Brinker Capital Inc. raised its stake in shares of Interpublic Group of Companies by 16.2% during the 1st quarter. Brinker Capital Inc. now owns 20,821 shares of the business services provider’s stock worth $480,000 after purchasing an additional 2,904 shares in the last quarter. Hedge funds and other institutional investors own 99.46% of the company’s stock.

IPG opened at $23.91 on Friday. Interpublic Group of Companies Inc has a 1-year low of $18.30 and a 1-year high of $26.01. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $9.08 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Friday, April 27th. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Interpublic Group of Companies had a net margin of 6.55% and a return on equity of 26.05%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company posted $0.05 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. equities analysts expect that Interpublic Group of Companies Inc will post 1.75 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 18th. Investors of record on Monday, June 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, June 1st. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 59.57%.

In related news, Director Mary Guilfoile sold 8,392 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $24.04, for a total value of $201,743.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director H John Greeniaus sold 33,573 shares of the stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $24.15, for a total value of $810,787.95. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on IPG. ValuEngine upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Friday. Moffett Nathanson began coverage on Interpublic Group of Companies in a research note on Tuesday. They set a “neutral” rating and a $23.00 price objective on the stock. Zacks Investment Research upgraded Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, June 6th. Wells Fargo & Co reiterated a “hold” rating and set a $26.00 price objective on shares of Interpublic Group of Companies in a research note on Monday, April 30th. Finally, Pivotal Research dropped their price objective on Interpublic Group of Companies from $26.00 to $25.00 and set a “hold” rating on the stock in a research note on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.50.

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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