November 9, 2019 at 6:21 am

BB&T Corp Sells 14,261 Shares of Interpublic Group of Companies Inc (NYSE:IPG)

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BB&T Corp decreased its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 26.4% during the third quarter, Holdings Channel reports. The firm owned 39,665 shares of the business services provider’s stock after selling 14,261 shares during the quarter. BB&T Corp’s holdings in Interpublic Group of Companies were worth $855,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other institutional investors also recently modified their holdings of IPG. South Texas Money Management Ltd. purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $7,840,000. DNB Asset Management AS raised its position in shares of Interpublic Group of Companies by 46.7% in the second quarter. DNB Asset Management AS now owns 210,564 shares of the business services provider’s stock worth $4,757,000 after buying an additional 66,988 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $6,127,000. Retirement Systems of Alabama raised its position in shares of Interpublic Group of Companies by 0.7% in the second quarter. Retirement Systems of Alabama now owns 180,493 shares of the business services provider’s stock worth $4,077,000 after buying an additional 1,260 shares in the last quarter. Finally, Boston Private Wealth LLC raised its position in shares of Interpublic Group of Companies by 1.8% in the second quarter. Boston Private Wealth LLC now owns 638,285 shares of the business services provider’s stock worth $14,419,000 after buying an additional 11,583 shares in the last quarter. Institutional investors own 97.85% of the company’s stock.

In other Interpublic Group of Companies news, Director H John Greeniaus sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $22.00, for a total transaction of $220,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Isor Roth sold 100,314 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $22.04, for a total value of $2,210,920.56. The disclosure for this sale can be found here. Company insiders own 1.09% of the company’s stock.

Shares of IPG stock opened at $22.97 on Friday. The business’s fifty day moving average is $21.22 and its 200 day moving average is $21.80. Interpublic Group of Companies Inc has a 52-week low of $19.56 and a 52-week high of $24.68. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $8.69 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. Interpublic Group of Companies had a return on equity of 31.19% and a net margin of 6.42%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that Interpublic Group of Companies Inc will post 1.89 EPS for the current fiscal year.

IPG has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price objective on Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. ValuEngine upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. TheStreet downgraded Interpublic Group of Companies from a “b” rating to a “c+” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Co initiated coverage on Interpublic Group of Companies in a research report on Monday, September 23rd. They issued a “market perform” rating and a $23.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.20.

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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Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies Inc (NYSE:IPG).

Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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