Rockland Trust Co. Sells 1,391 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Rockland Trust Co. lessened its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,660 shares of the business services provider’s stock after selling 1,391 shares during the period. Rockland Trust Co.’s holdings in Interpublic Group of Companies were worth $812,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. J. W. Coons Advisors LLC boosted its position in shares of Interpublic Group of Companies by 5.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 11,731 shares of the business services provider’s stock valued at $383,000 after buying an additional 623 shares during the period. California State Teachers Retirement System boosted its holdings in Interpublic Group of Companies by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 631,104 shares of the business services provider’s stock valued at $20,599,000 after acquiring an additional 23,297 shares during the period. Belpointe Asset Management LLC bought a new position in Interpublic Group of Companies in the 4th quarter valued at $273,000. Tower Research Capital LLC TRC increased its stake in Interpublic Group of Companies by 92.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 60,632 shares of the business services provider’s stock worth $1,979,000 after purchasing an additional 29,074 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Interpublic Group of Companies by 32.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 42,407 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 10,423 shares during the period. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Down 0.1 %

IPG stock traded down $0.03 during trading on Friday, reaching $30.79. 2,658,510 shares of the company traded hands, compared to its average volume of 3,896,564. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 5.23 and a beta of 1.09. The business has a 50 day simple moving average of $31.24 and a 200 day simple moving average of $30.87. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $35.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. Interpublic Group of Companies’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Wall Street Analyst Weigh In

IPG has been the subject of a number of research analyst reports. Macquarie decreased their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. BNP Paribas lowered 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 dropped their price target for the stock from $36.00 to $33.00 in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average target price of $32.44.

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.