The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,229 shares of the business services provider’s stock after selling 1,562 shares during the quarter. Pitcairn Co.’s holdings in Interpublic Group of Companies were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of IPG. Rosenberg Matthew Hamilton raised its stake in Interpublic Group of Companies by 9.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock worth $131,000 after acquiring an additional 365 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Interpublic Group of Companies by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after purchasing an additional 382 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Interpublic Group of Companies by 2.9% in the 3rd quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 399 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

IPG opened at $30.69 on Tuesday. The Interpublic Group of Companies, Inc. has a 1-year low of $26.88 and a 1-year high of $35.17. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 14.48 and a beta of 1.10. The business has a 50 day moving average price of $30.36 and a two-hundred day moving average price of $30.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Interpublic Group of Companies’s revenue was down 2.9% compared to the same quarter last year. Research analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.30%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IPG shares. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Macquarie reiterated a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Barclays reduced their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies 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.