Northern Trust Corp Sells 221,264 Shares of Interpublic Group of Companies Inc (NYSE:IPG)

Northern Trust Corp reduced its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 4.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,150,120 shares of the business services provider’s stock after selling 221,264 shares during the period. Northern Trust Corp owned approximately 1.33% of Interpublic Group of Companies worth $116,342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Covenant Multifamily Offices LLC purchased a new position in Interpublic Group of Companies in the 2nd quarter worth $225,000. State of Wisconsin Investment Board raised its position in Interpublic Group of Companies by 58.2% in the 1st quarter. State of Wisconsin Investment Board now owns 951,434 shares of the business services provider’s stock worth $19,990,000 after purchasing an additional 350,133 shares during the period. Raymond James & Associates raised its position in Interpublic Group of Companies by 2.7% in the 1st quarter. Raymond James & Associates now owns 1,325,193 shares of the business services provider’s stock worth $27,842,000 after purchasing an additional 34,840 shares during the period. Exane Derivatives raised its position in Interpublic Group of Companies by 2,760.0% in the 2nd quarter. Exane Derivatives now owns 3,003 shares of the business services provider’s stock worth $68,000 after purchasing an additional 2,898 shares during the period. Finally, Prudential Financial Inc. raised its position in Interpublic Group of Companies by 3.3% in the 2nd quarter. Prudential Financial Inc. now owns 360,623 shares of the business services provider’s stock worth $8,147,000 after purchasing an additional 11,404 shares during the period. 98.02% of the stock is owned by institutional investors.

In related news, Director H John Greeniaus sold 44,396 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $23.02, for a total transaction of $1,021,995.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Isor Roth sold 431,594 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $23.08, for a total transaction of $9,961,189.52. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by insiders.

Shares of IPG stock traded up $0.02 during mid-day trading on Friday, reaching $21.13. The stock had a trading volume of 61,701 shares, compared to its average volume of 2,900,622. The stock’s 50-day moving average price is $20.99 and its two-hundred day moving average price is $22.04. Interpublic Group of Companies Inc has a 52-week low of $19.56 and a 52-week high of $25.10. The firm has a market capitalization of $8.38 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.04.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, July 23rd. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Interpublic Group of Companies had a net margin of 6.46% and a return on equity of 32.03%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Interpublic Group of Companies Inc will post 1.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Friday, August 30th. Interpublic Group of Companies’s payout ratio is 50.54%.

A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research report on Wednesday, July 3rd. ValuEngine cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America upgraded shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 10th. TheStreet cut shares of Interpublic Group of Companies from a “b” rating to a “c+” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets decreased their target price on shares of 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.71.

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.

Further Reading: How Investors Use a Balance Sheet

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

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