Principal Street Partners LLC Cuts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Principal Street Partners LLC lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,227 shares of the business services provider’s stock after selling 31,770 shares during the period. Principal Street Partners LLC’s holdings in Interpublic Group of Companies were worth $5,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. grew its position in Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Interpublic Group of Companies in the third quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. increased its position in shares of Interpublic Group of Companies by 652.2% during the second 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 during the last quarter. International Assets Investment Management LLC bought a new stake in Interpublic Group of Companies during the second quarter worth $32,000. Finally, Ashton Thomas Securities LLC purchased a new position in Interpublic Group of Companies in the third quarter worth $32,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America decreased their target price 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. StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Barclays reduced their target price 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. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $30.68 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a one year low of $26.88 and a one year high of $35.17. The firm has a market capitalization of $11.43 billion, a P/E ratio of 14.48 and a beta of 1.10. The business has a fifty day moving average price of $30.36 and a 200-day moving average price of $30.51.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.30%. 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.