PNC Financial Services Group Inc. Sells 21,018 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

PNC Financial Services Group Inc. trimmed its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,270,523 shares of the business services provider's stock after selling 21,018 shares during the quarter. PNC Financial Services Group Inc. owned 0.34% of Interpublic Group of Companies worth $34,507,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IPG. Sentry Investment Management LLC acquired a new position in Interpublic Group of Companies during the first quarter worth $31,000. Raiffeisen Bank International AG acquired a new stake in shares of Interpublic Group of Companies in the 4th quarter worth about $42,000. FNY Investment Advisers LLC bought a new position in Interpublic Group of Companies in the 1st quarter valued at about $44,000. Grove Bank & Trust boosted its stake in Interpublic Group of Companies by 1,219.5% during the 1st quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after purchasing an additional 2,000 shares during the last quarter. Finally, GeoWealth Management LLC boosted its stake in Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock valued at $94,000 after purchasing an additional 573 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $24.23 on Monday. The company has a market capitalization of $8.87 billion, a PE ratio of 20.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The company has a 50-day simple moving average of $24.35 and a 200 day simple moving average of $25.55.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the firm earned $0.61 EPS. The company's revenue was down 6.6% compared to the same quarter last year. On average, research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IPG. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their price objective on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. Citigroup reissued a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Finally, UBS Group reduced their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $32.39.

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.

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