Centennial Bank AR Sells 3,430 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Centennial Bank AR lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 80.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 824 shares of the business services provider’s stock after selling 3,430 shares during the period. Centennial Bank AR’s holdings in Interpublic Group of Companies were worth $26,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. grew its position in 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 acquiring an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in 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 acquiring an additional 900 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Interpublic Group of Companies in the second quarter worth $32,000. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 405 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Interpublic Group of Companies in the second quarter worth $39,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock opened at $29.48 on Monday. 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 firm has a 50-day moving average of $31.15 and a 200-day moving average of $30.70. The firm 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 Interpublic Group of Companies, Inc. has a 1-year low of $28.00 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. Interpublic Group of Companies’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.48%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

IPG has been the subject of several research reports. Macquarie reiterated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Bank of America cut their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Barclays cut their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $30.57.

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.