CENTRAL TRUST Co Decreases Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

CENTRAL TRUST Co trimmed its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,362 shares of the business services provider’s stock after selling 1,125 shares during the quarter. CENTRAL TRUST Co’s holdings in Interpublic Group of Companies were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Great Lakes Retirement Inc. grew its stake in shares of Interpublic Group of Companies by 7.4% during the 3rd quarter. Great Lakes Retirement Inc. now owns 12,937 shares of the business services provider’s stock worth $409,000 after acquiring an additional 886 shares during the period. International Assets Investment Management LLC lifted its holdings in Interpublic Group of Companies by 2,679.9% during the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock valued at $965,000 after purchasing an additional 29,425 shares during the last quarter. Elevated Capital Advisors LLC lifted its holdings in Interpublic Group of Companies by 11.4% during the third quarter. Elevated Capital Advisors LLC now owns 23,955 shares of the business services provider’s stock valued at $758,000 after purchasing an additional 2,461 shares during the last quarter. Symphony Financial Ltd. Co. bought a new position in Interpublic Group of Companies during the third quarter worth about $512,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Interpublic Group of Companies by 31.8% in the third quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock worth $75,000 after purchasing an additional 568 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $29.80 on Monday. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 4.97 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $31.33 and a 200 day simple moving average of $30.72. The Interpublic Group of Companies, Inc. has a 52 week low of $27.54 and a 52 week high of $35.17.

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. 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 return on equity of 27.51% and a net margin of 7.44%. Interpublic Group of Companies’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.83 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. Stockholders of record on Tuesday, September 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

Wall Street Analyst Weigh In

Several research firms recently commented on IPG. Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. StockNews.com lowered Interpublic Group of Companies from a “hold” rating to a “sell” rating in a report on Wednesday, October 23rd. Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Macquarie restated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and an average price target 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.