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

Principal Street Partners LLC decreased its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 SEC filing.

Several other institutional investors have also recently made changes to their positions in IPG. Brooklyn Investment Group bought a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $60,000. West Tower Group LLC bought a new stake in shares of Interpublic Group of Companies during the third quarter valued at approximately $269,000. Private Trust Co. NA increased its position in Interpublic Group of Companies by 39.3% in the third quarter. Private Trust Co. NA now owns 3,991 shares of the business services provider's stock worth $126,000 after purchasing an additional 1,125 shares during the last quarter. Mirabella Financial Services LLP increased its position in Interpublic Group of Companies by 4.1% in the third quarter. Mirabella Financial Services LLP now owns 40,126 shares of the business services provider's stock worth $1,253,000 after purchasing an additional 1,572 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Interpublic Group of Companies by 11.1% in the third quarter. Daiwa Securities Group Inc. now owns 83,446 shares of the business services provider's stock worth $2,639,000 after purchasing an additional 8,349 shares during the last quarter. Institutional investors own 98.43% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group cut shares of Interpublic Group of Companies from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. BNP Paribas cut shares of Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a research report on Monday, September 30th. Barclays reduced their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an "equal weight" rating on the stock in a research 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 report on Saturday, November 9th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $30.57.

Interpublic Group of Companies Trading Down 0.1 %

NYSE IPG traded down $0.04 on Tuesday, hitting $30.64. 4,972,341 shares of the stock were exchanged, compared to its average volume of 4,015,011. 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 fifty day moving average price of $30.36 and a two-hundred day moving average price of $30.51. The firm has a market capitalization of $11.41 billion, a P/E ratio of 14.48 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 52-week low of $26.88 and a 52-week high of $35.17.

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

Interpublic Group of Companies Dividend Announcement

The business 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies's dividend payout ratio 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.