Resona Asset Management Co. Ltd. Sells 117,167 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Resona Asset Management Co. Ltd. lowered its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 96.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,413 shares of the business services provider’s stock after selling 117,167 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Interpublic Group of Companies were worth $107,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its stake in Interpublic Group of Companies by 14,575.4% in the second quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider’s stock valued at $76,359,000 after acquiring an additional 3,097,994 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Interpublic Group of Companies by 49.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock valued at $231,138,000 after purchasing an additional 2,797,490 shares in the last quarter. Pentwater Capital Management LP grew its position in shares of Interpublic Group of Companies by 568.6% in the 1st quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider’s stock valued at $63,554,000 after purchasing an additional 1,990,000 shares during the period. Alliancebernstein L.P. increased its stake in Interpublic Group of Companies by 149.0% during the 1st quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider’s stock worth $71,476,000 after purchasing an additional 1,574,777 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Interpublic Group of Companies by 1,475.5% during the 1st quarter. Jane Street Group LLC now owns 1,328,121 shares of the business services provider’s stock worth $36,072,000 after buying an additional 1,243,823 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 8th. Barclays dropped their price target on Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a research note on Wednesday. Zacks Research cut Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, UBS Group dropped their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $32.18.

Interpublic Group of Companies Trading Up 0.5%

Interpublic Group of Companies stock opened at $25.49 on Thursday. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 21.60 and a beta of 1.12. The firm has a 50-day moving average of $26.33 and a 200-day moving average of $25.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Monday, November 10th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Interpublic Group of Companies’s revenue was down 4.8% on a year-over-year basis. On average, equities analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.