The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366,838 shares of the business services provider's stock after selling 45,922 shares during the period. PNC Financial Services Group Inc. owned approximately 0.37% of Interpublic Group of Companies worth $43,233,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. lifted its position in 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 valued at $26,000 after buying an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider's stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Interpublic Group of Companies during the 2nd quarter worth $32,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Interpublic Group of Companies in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

IPG has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Barclays decreased 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. StockNews.com upgraded shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Macquarie reissued a "neutral" rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, BNP Paribas lowered shares of Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of "Hold" and an average price target of $30.57.

Interpublic Group of Companies Stock Up 2.6 %

Shares of NYSE:IPG opened at $28.38 on Thursday. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market cap of $10.57 billion, a PE ratio of 13.39 and a beta of 1.10. The company has a fifty day simple moving average of $30.43 and a 200 day simple moving average of $30.53.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 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 business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the firm earned $0.70 earnings per share. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies's dividend payout ratio is currently 62.26%.

Interpublic Group of Companies Company 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.