Bank of New York Mellon Corp Acquires 2,174,727 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Bank of New York Mellon Corp grew its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 44.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,054,165 shares of the business services provider’s stock after purchasing an additional 2,174,727 shares during the period. Bank of New York Mellon Corp owned approximately 1.79% of The Interpublic Group of Companies worth $229,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of The Interpublic Group of Companies by 11.4% in the second quarter. BlackRock Inc. now owns 39,355,049 shares of the business services provider’s stock valued at $1,278,646,000 after purchasing an additional 4,036,519 shares during the period. Geode Capital Management LLC raised its position in shares of The Interpublic Group of Companies by 1.9% in the first quarter. Geode Capital Management LLC now owns 7,486,581 shares of the business services provider’s stock valued at $218,226,000 after purchasing an additional 135,990 shares during the period. Amundi Asset Management US Inc. raised its position in shares of The Interpublic Group of Companies by 24.2% in the first quarter. Amundi Asset Management US Inc. now owns 6,856,650 shares of the business services provider’s stock valued at $200,188,000 after purchasing an additional 1,334,646 shares during the period. Dimensional Fund Advisors LP raised its position in shares of The Interpublic Group of Companies by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 6,620,279 shares of the business services provider’s stock valued at $193,316,000 after purchasing an additional 300,255 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of The Interpublic Group of Companies by 37.1% in the first quarter. Ameriprise Financial Inc. now owns 4,574,016 shares of the business services provider’s stock valued at $133,560,000 after purchasing an additional 1,238,666 shares during the period.

NYSE:IPG opened at $38.88 on Friday. The company has a fifty day moving average of $36.41 and a 200 day moving average of $33.20. The Interpublic Group of Companies, Inc. has a 52 week low of $16.07 and a 52 week high of $39.03. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $15.30 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.29 and a beta of 1.06.

The Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, July 20th. The business services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.28. The Interpublic Group of Companies had a net margin of 7.91% and a return on equity of 34.27%. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $0.23 EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. As a group, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $1.08 annualized dividend and a yield of 2.78%. The Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.43%.

In other The Interpublic Group of Companies news, Chairman Michael Isor Roth sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $35.27, for a total value of $7,054,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

IPG has been the topic of a number of analyst reports. Macquarie upped their target price on shares of The Interpublic Group of Companies from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, July 22nd. Bank of America raised shares of The Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $27.00 to $37.00 in a report on Thursday, July 22nd. Wells Fargo & Company upped their target price on shares of The Interpublic Group of Companies from $36.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, July 22nd. Zacks Investment Research lowered shares of The Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a report on Tuesday. Finally, BMO Capital Markets upped their target price on shares of The Interpublic Group of Companies from $34.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, July 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $32.75.

The Interpublic Group of Companies Profile

Interpublic Group of Cos., Inc engages in the provision of advertising and marketing services. The firm specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates through the following segments: Integrated Agency Network (IAN) and Constituency Management Group (CMG).

See Also: Trading Stocks – What are percentage gainers?

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

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

Receive News & Ratings for The Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.