The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,883 shares of the business services provider’s stock after selling 19,831 shares during the period. Glenmede Trust Co. NA owned 0.11% of Interpublic Group of Companies worth $13,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bridgewater Associates LP increased its holdings in shares of Interpublic Group of Companies by 956.5% in the third quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock valued at $3,313,000 after purchasing an additional 94,821 shares during the period. Hardy Reed LLC purchased a new stake in Interpublic Group of Companies in the third quarter valued at approximately $203,000. Townsquare Capital LLC acquired a new position in Interpublic Group of Companies in the 3rd quarter worth approximately $215,000. Cadence Bank purchased a new position in Interpublic Group of Companies during the 3rd quarter worth approximately $648,000. Finally, Transamerica Financial Advisors Inc. lifted its stake in Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 2,437 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IPG. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Bank of America reduced their price target on 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. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Stock Down 0.5 %

Shares of NYSE IPG opened at $30.48 on Friday. The Interpublic Group of Companies, Inc. has a 52-week low of $26.88 and a 52-week high of $35.17. 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 company’s 50-day simple moving average is $30.32 and its 200-day simple moving average is $30.50. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 14.38 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data 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. During the same period in the previous year, the firm posted $0.70 EPS. Interpublic Group of Companies’s revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS 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. Stockholders of record on Monday, December 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 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.