Glenmede Trust Co. NA Reduces Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Glenmede Trust Co. NA lessened its stake in shares of 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 & Exchange Commission. 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’s holdings in Interpublic Group of Companies were worth $13,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. raised its stake 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 worth $26,000 after purchasing an additional 375 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its position 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 buying an additional 900 shares during the period. International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies in the second quarter valued at approximately $32,000. Finally, Ashton Thomas Securities LLC purchased a new position in Interpublic Group of Companies in the third quarter worth approximately $32,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 0.5 %

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

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the company posted $0.70 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.33%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 62.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IPG shares. Barclays reduced their target price on 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. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $26.00 target price (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Bank of America dropped their price target on shares of 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 upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Macquarie reiterated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.57.

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.