Rockland Trust Co. Cuts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Rockland Trust Co. lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.3% in the first quarter, Holdings Channel.com reports. The firm owned 24,790 shares of the business services provider’s stock after selling 845 shares during the quarter. Rockland Trust Co.’s holdings in Interpublic Group of Companies were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC lifted its position in shares of Interpublic Group of Companies by 2.3% during the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider’s stock valued at $595,000 after acquiring an additional 470 shares during the period. Allworth Financial LP increased its stake in Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares in the last quarter. GeoWealth Management LLC raised its holdings in Interpublic Group of Companies by 20.7% during the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after purchasing an additional 573 shares during the last quarter. Xponance Inc. boosted its position in Interpublic Group of Companies by 1.0% during the fourth quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock worth $1,677,000 after purchasing an additional 587 shares in the last quarter. Finally, Proactive Wealth Strategies LLC grew its holdings in Interpublic Group of Companies by 5.8% in the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $22.97 on Friday. The stock has a market capitalization of $8.49 billion, a PE ratio of 12.55 and a beta of 1.06. The business’s fifty day moving average price is $24.35 and its 200 day moving average price is $26.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis. Equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.75%. Interpublic Group of Companies’s dividend payout ratio is presently 100.76%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IPG shares. Barclays dropped their price target on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They set a “hold” rating for the company. Citigroup restated a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Finally, Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.44.

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.