City Holding Co. Sells 11,126 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

City Holding Co. decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 56.5% in the 4th quarter, HoldingsChannel reports. The firm owned 8,562 shares of the business services provider’s stock after selling 11,126 shares during the quarter. City Holding Co.’s holdings in Interpublic Group of Companies were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares during the last quarter. Millennium Management LLC increased its position in Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after acquiring an additional 1,248,062 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Interpublic Group of Companies by 168.3% in the second quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider’s stock worth $24,186,000 after acquiring an additional 521,546 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Interpublic Group of Companies by 177.3% during the third quarter. SG Americas Securities LLC now owns 705,703 shares of the business services provider’s stock worth $22,321,000 after purchasing an additional 451,205 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Interpublic Group of Companies by 44.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,356,021 shares of the business services provider’s stock valued at $39,447,000 after purchasing an additional 417,766 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of IPG stock opened at $27.84 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12-month low of $26.30 and a 12-month high of $35.17. The firm has a fifty day moving average of $28.79 and a 200-day moving average of $30.05. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 13.13 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly 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 return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend was Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IPG. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Macquarie reaffirmed a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Barclays lowered their price objective on 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 upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a research note on Friday, January 10th. Two 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.com, the stock has an average rating of “Hold” and an average price target of $32.50.

Interpublic Group of Companies Company 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.