Pitcairn Co. Trims Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Pitcairn Co. reduced its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & 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 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IPG. California State Teachers Retirement System grew its position in Interpublic Group of Companies by 1.7% in the first quarter. California State Teachers Retirement System now owns 641,724 shares of the business services provider’s stock worth $20,939,000 after acquiring an additional 10,620 shares during the period. Tidal Investments LLC boosted its stake in Interpublic Group of Companies by 68.0% during the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock worth $3,949,000 after buying an additional 48,996 shares during the period. iA Global Asset Management Inc. acquired a new stake in shares of Interpublic Group of Companies during the first quarter valued at about $244,000. Wahed Invest LLC raised its stake in shares of Interpublic Group of Companies by 14.6% in the 1st quarter. Wahed Invest LLC now owns 7,538 shares of the business services provider’s stock valued at $246,000 after acquiring an additional 961 shares during the period. Finally, Swedbank AB acquired a new position in shares of Interpublic Group of Companies in the 1st quarter worth approximately $20,493,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of 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 stock has a market capitalization of $11.43 billion, a PE ratio of 14.48 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a 50-day simple moving average of $30.36 and a 200-day simple moving average of $30.51.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly 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 net margin of 7.44% and a return on equity of 27.76%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

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 issued a $0.33 dividend. 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 (DPR) is presently 62.26%.

Analyst Ratings Changes

Several research firms recently weighed in on IPG. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Bank of America dropped their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 target price (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Barclays dropped their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Interpublic Group of Companies currently has an average 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.