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

Cadence Bank bought a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, Holdings Channel reports. The fund bought 20,472 shares of the business services provider’s stock, valued at approximately $648,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Interpublic Group of Companies by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock valued at $393,064,000 after purchasing an additional 270,857 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares in the last quarter. Ariel Investments LLC increased its stake in shares of Interpublic Group of Companies by 3.5% during the second quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock valued at $166,117,000 after purchasing an additional 193,898 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Interpublic Group of Companies by 4.8% during the second quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after purchasing an additional 255,250 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Interpublic Group of Companies by 19.8% during the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after purchasing an additional 899,332 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the subject of a number of analyst reports. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Barclays reduced 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. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Finally, StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Trading Down 0.5 %

Shares of IPG stock opened at $30.47 on Thursday. 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’s 50 day moving average is $30.34 and its 200 day moving average is $30.50. The stock has a market capitalization of $11.35 billion, a P/E ratio of 14.37 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (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 company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Research 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 firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

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.