Prossimo Advisors LLC Has $317,000 Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Prossimo Advisors LLC reduced its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,013 shares of the business services provider’s stock after selling 1,722 shares during the quarter. Prossimo Advisors LLC’s holdings in Interpublic Group of Companies were worth $317,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of Interpublic Group of Companies by 15.0% in the first quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock worth $32,281,000 after purchasing an additional 129,215 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Interpublic Group of Companies by 3.0% in the second quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock worth $34,532,000 after purchasing an additional 34,965 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock worth $3,949,000 after purchasing an additional 48,996 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Interpublic Group of Companies by 176.5% in the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock worth $7,403,000 after purchasing an additional 162,468 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth approximately $2,061,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $29.48 on Friday. The stock has a fifty day simple moving average of $31.15 and a two-hundred day simple moving average of $30.70. The Interpublic Group of Companies, Inc. has a 1-year low of $28.00 and a 1-year high of $35.17. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 4.92 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.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting 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 business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company earned $0.70 earnings per share. Interpublic Group of Companies’s revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 4.48%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

IPG has been the subject of several analyst reports. 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 note on Monday, July 22nd. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Thursday. BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Barclays reduced their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Macquarie reaffirmed 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company 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.