Commerce Bank Sells 89,480 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Commerce Bank reduced its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,157,498 shares of the business services provider’s stock after selling 89,480 shares during the quarter. Commerce Bank owned about 0.56% of Interpublic Group of Companies worth $55,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of IPG. Vanguard Group Inc. grew its position in shares of Interpublic Group of Companies by 2.3% during the first quarter. Vanguard Group Inc. now owns 47,707,617 shares of the business services provider’s stock valued at $1,691,233,000 after purchasing an additional 1,075,059 shares in the last quarter. Black Creek Investment Management Inc. increased its stake in Interpublic Group of Companies by 1.8% in the 2nd quarter. Black Creek Investment Management Inc. now owns 13,513,507 shares of the business services provider’s stock worth $372,027,000 after acquiring an additional 240,921 shares during the last quarter. Amundi raised its holdings in shares of Interpublic Group of Companies by 11.8% during the 2nd quarter. Amundi now owns 7,694,955 shares of the business services provider’s stock worth $211,785,000 after acquiring an additional 814,600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Interpublic Group of Companies by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,334,797 shares of the business services provider’s stock valued at $260,020,000 after acquiring an additional 480,227 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Interpublic Group of Companies by 1.1% in the first quarter. Northern Trust Corp now owns 6,397,446 shares of the business services provider’s stock valued at $226,790,000 after purchasing an additional 70,138 shares in the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Interpublic Group of Companies from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $22.00 to $36.00 in a research note on Thursday, January 5th. StockNews.com assumed coverage on Interpublic Group of Companies in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Morgan Stanley raised their price target on Interpublic Group of Companies from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, December 19th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Interpublic Group of Companies Stock Down 0.1 %

NYSE:IPG opened at $36.48 on Wednesday. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 3.66 and a beta of 1.08. The Interpublic Group of Companies, Inc. has a twelve month low of $25.14 and a twelve month high of $39.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $34.00 and a 200-day simple moving average of $30.49.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Wednesday, November 30th. Interpublic Group of Companies’s dividend payout ratio is currently 46.03%.

About Interpublic Group of Companies

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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

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