Prossimo Advisors LLC Sells 1,722 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Prossimo Advisors LLC reduced its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 14.7% in the third quarter, Holdings Channel.com reports. The fund owned 10,013 shares of the business services provider’s stock after selling 1,722 shares during the period. Prossimo Advisors LLC’s holdings in Interpublic Group of Companies were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. raised its position in shares of Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after buying an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after buying an additional 900 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $32,000. EverSource Wealth Advisors LLC raised its position in shares of Interpublic Group of Companies by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $39,000. 98.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IPG shares. 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 report on Tuesday, October 22nd. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Barclays lowered their price target 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. Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Stock Up 0.3 %

IPG opened at $29.48 on Friday. The company has a market cap of $10.98 billion, a P/E ratio of 13.91, a P/E/G ratio of 4.92 and a beta of 1.10. The business’s 50-day moving average price is $31.15 and its 200-day moving average price is $30.70. 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 Interpublic Group of Companies, Inc. has a 12 month low of $28.00 and a 12 month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.48%. Interpublic Group of Companies’s dividend payout ratio is presently 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.