Reinhart Partners LLC. Sells 32,580 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Reinhart Partners LLC. reduced its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 265,370 shares of the business services provider’s stock after selling 32,580 shares during the quarter. Reinhart Partners LLC. owned 0.07% of Interpublic Group of Companies worth $8,394,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Legacy Wealth Asset Management LLC raised its holdings in Interpublic Group of Companies by 3.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock worth $356,000 after acquiring an additional 347 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Interpublic Group of Companies by 8.4% in the 1st quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider’s stock worth $148,000 after purchasing an additional 350 shares in the last quarter. Benjamin Edwards Inc. raised its stake 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 purchasing an additional 375 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Interpublic Group of Companies by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after purchasing an additional 382 shares in the last quarter. Finally, Signet Financial Management LLC boosted its position in shares of Interpublic Group of Companies by 2.0% during the first quarter. Signet Financial Management LLC now owns 20,550 shares of the business services provider’s stock valued at $671,000 after buying an additional 395 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Barclays reduced their price target on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Bank of America dropped 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 note on Thursday, September 5th. BNP Paribas cut Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.44.

Interpublic Group of Companies Trading Up 1.1 %

Interpublic Group of Companies stock opened at $31.39 on Friday. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $35.17. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 5.18 and a beta of 1.09. The firm has a 50 day moving average of $31.19 and a 200 day moving average of $30.82. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.21%. Interpublic Group of Companies’s payout ratio is 46.98%.

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.