Ariel Investments Lowers stake in Interpublic Group of Companies Inc (IPG)

Interpublic Group of Companies Inc (IPG) : Ariel Investments reduced its stake in Interpublic Group of Companies Inc by 12.61% during the most recent quarter end. The investment management company now holds a total of 8,093,242 shares of Interpublic Group of Companies Inc which is valued at $192.6 Million after selling 1,167,670 shares in Interpublic Group of Companies Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Interpublic Group of Companies Inc makes up approximately 2.37% of Ariel Investments’s portfolio.

Other Hedge Funds, Including , Hotchkis Wiley Capital Management sold out all of its stake in IPG during the most recent quarter. The investment firm sold 2,631,269 shares of IPG which is valued $62.6 Million.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in IPG in the latest quarter, The investment management firm added 249 additional shares and now holds a total of 30,049 shares of Interpublic Group of Companies Inc which is valued at $715,166. Interpublic Group of Companies Inc makes up approx 0.02% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in IPG by selling 5,572 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 445,409 shares of IPG which is valued at $10.5 Million. Interpublic Group of Companies Inc makes up approx 0.04% of State Board Of Administration Of Florida Retirement System’s portfolio.Wedbush Securities Inc boosted its stake in IPG in the latest quarter, The investment management firm added 1,103 additional shares and now holds a total of 21,278 shares of Interpublic Group of Companies Inc which is valued at $501,735. Interpublic Group of Companies Inc makes up approx 0.09% of Wedbush Securities Inc’s portfolio.Cadence Capital Management boosted its stake in IPG in the latest quarter, The investment management firm added 58,872 additional shares and now holds a total of 130,488 shares of Interpublic Group of Companies Inc which is valued at $3.1 Million. Interpublic Group of Companies Inc makes up approx 0.22% of Cadence Capital Management’s portfolio.

Interpublic Group of Companies Inc closed down -0.14 points or -0.59% at $23.54 with 55,20,703 shares getting traded on Wednesday. Post opening the session at $23.78, the shares hit an intraday low of $23.42 and an intraday high of $23.84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Interpublic Group of Companies Inc reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 12, 2016. Analyst had a consensus of $0.62. The company had revenue of $2196.20 million for the quarter, compared to analysts expectations of $2191.19 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.57 EPS.

Many Wall Street Analysts have commented on Interpublic Group of Companies Inc. Company shares were Reiterated by Telsey Advisory Group on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 28 from a previous price target of $27.50 .Company shares were Reiterated by Wedbush on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 28 from a previous price target of $26 .

The Interpublic Group of Companies Inc. (IPG) is a global advertising and marketing services company. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG). IAN includes McCann Worldgroup Foote Cone & Belding Lowe and Partners IPG Mediabrands its digital specialist agencies and its domestic integrated agencies. IAN’s domestic integrated agencies including Hill Holliday Carmichael Lynch Dailey Tierney and Mullen provide a range of advertising marketing communications services and/or marketing services. CMG which includes Weber Shandwick Cassidy DeVries Golin FutureBrand Jack Morton and Octagon Worldwide provides diversified services including public relations meeting and event production sports and entertainment marketing corporate and brand identity and strategic marketing consulting.

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