Cadence Bank Buys Shares of 20,472 The Interpublic Group of Companies, Inc. (NYSE:IPG)

Cadence Bank acquired a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,472 shares of the business services provider’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in Interpublic Group of Companies by 1.7% during the first quarter. California State Teachers Retirement System now owns 641,724 shares of the business services provider’s stock valued at $20,939,000 after acquiring an additional 10,620 shares during the last quarter. Tidal Investments LLC raised its position in Interpublic Group of Companies by 68.0% in the 1st 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 period. iA Global Asset Management Inc. purchased a new position in Interpublic Group of Companies in the 1st quarter worth $244,000. Wahed Invest LLC lifted its stake in Interpublic Group of Companies by 14.6% in the first quarter. Wahed Invest LLC now owns 7,538 shares of the business services provider’s stock worth $246,000 after purchasing an additional 961 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Interpublic Group of Companies during the first quarter valued at about $20,493,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 0.5 %

Shares of NYSE IPG opened at $30.47 on Thursday. The firm has a fifty day simple moving average of $30.34 and a two-hundred day simple moving average of $30.50. The Interpublic Group of Companies, Inc. has a 12 month low of $26.88 and a 12 month high of $35.17. 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 market capitalization of $11.35 billion, a PE ratio of 14.37 and a beta of 1.10.

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

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.33%. Interpublic Group of Companies’s payout ratio is 62.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays lowered 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 research note on Wednesday, October 23rd. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.