Principal Street Partners LLC Sells 31,770 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Principal Street Partners LLC reduced its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,227 shares of the business services provider’s stock after selling 31,770 shares during the quarter. Principal Street Partners LLC’s holdings in Interpublic Group of Companies were worth $5,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Interpublic Group of Companies by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock valued at $393,064,000 after buying an additional 270,857 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares in the last quarter. Ariel Investments LLC lifted its stake in Interpublic Group of Companies by 3.5% during the second quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock worth $166,117,000 after purchasing an additional 193,898 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Interpublic Group of Companies by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock worth $163,049,000 after purchasing an additional 255,250 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Interpublic Group of Companies by 19.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after buying an additional 899,332 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $30.68 on Tuesday. The company’s fifty day simple moving average is $30.36 and its two-hundred day simple moving average is $30.51. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17. The firm has a market cap of $11.43 billion, a PE ratio of 14.48 and a beta of 1.10. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) 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. Interpublic Group of Companies’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. As a group, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

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

Analyst Upgrades and Downgrades

IPG has been the topic of a number of recent research reports. Bank of America reduced their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Macquarie reaffirmed a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Barclays cut their price target on shares of 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 upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.