Pathstone Holdings LLC Sells 6,544 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Pathstone Holdings LLC lessened its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,156 shares of the business services provider’s stock after selling 6,544 shares during the period. Pathstone Holdings LLC’s holdings in Interpublic Group of Companies were worth $3,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its stake in Interpublic Group of Companies by 3.5% in the first quarter. 1832 Asset Management L.P. now owns 50,695 shares of the business services provider’s stock valued at $1,654,000 after purchasing an additional 1,718 shares in the last quarter. Ascent Group LLC raised its position in shares of Interpublic Group of Companies by 4.0% in the 1st quarter. Ascent Group LLC now owns 52,235 shares of the business services provider’s stock valued at $1,704,000 after buying an additional 2,023 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Interpublic Group of Companies by 101.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after buying an additional 853,287 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Interpublic Group of Companies by 1.7% during the 1st 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. Finally, Redwood Investment Management LLC boosted its position in shares of Interpublic Group of Companies by 4.0% during the 1st quarter. Redwood Investment Management LLC now owns 67,210 shares of the business services provider’s stock worth $2,193,000 after acquiring an additional 2,603 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America lowered their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Barclays lowered their price target on 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. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Trading Up 1.5 %

Shares of IPG stock opened at $29.58 on Friday. The Interpublic Group of Companies, Inc. has a twelve month low of $26.88 and a twelve month high of $35.17. The stock’s fifty day simple moving average is $30.37 and its 200 day simple moving average is $30.52. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $11.02 billion, a P/E ratio of 13.95 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.46%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 62.26%.

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.