Summit Trail Advisors LLC Trims Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Summit Trail Advisors LLC trimmed its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,357 shares of the business services provider’s stock after selling 2,154 shares during the quarter. Summit Trail Advisors LLC’s holdings in Interpublic Group of Companies were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in IPG. Larson Financial Group LLC grew its stake in shares of Interpublic Group of Companies by 95.6% in the 3rd quarter. Larson Financial Group LLC now owns 12,892 shares of the business services provider’s stock worth $408,000 after buying an additional 6,300 shares during the last quarter. Swedbank AB boosted its holdings in Interpublic Group of Companies by 2.1% in the third quarter. Swedbank AB now owns 613,367 shares of the business services provider’s stock worth $19,401,000 after acquiring an additional 12,431 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Interpublic Group of Companies by 448.5% in the third quarter. Cerity Partners LLC now owns 268,154 shares of the business services provider’s stock worth $8,482,000 after acquiring an additional 219,263 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Interpublic Group of Companies by 13.0% in the third quarter. Raymond James Trust N.A. now owns 39,906 shares of the business services provider’s stock worth $1,262,000 after acquiring an additional 4,601 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Interpublic Group of Companies by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock worth $393,064,000 after purchasing an additional 270,857 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $30.64 on Wednesday. The firm has a fifty day simple moving average of $30.35 and a two-hundred day simple moving average of $30.50. The firm has a market cap of $11.41 billion, a PE ratio of 14.45 and a beta of 1.10. 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 1-year low of $26.88 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. The company had revenue of $2.24 billion during 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%. Interpublic Group of Companies’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

Wall Street Analyst Weigh In

Several analysts recently commented on IPG shares. 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. Bank of America cut their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Macquarie reiterated a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.57.

About Interpublic Group of Companies

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.