Arvest Investments Inc. Sells 8,403 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Arvest Investments Inc. decreased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,177 shares of the business services provider’s stock after selling 8,403 shares during the quarter. Arvest Investments Inc.’s holdings in Interpublic Group of Companies were worth $1,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norden Group LLC bought a new stake in shares of Interpublic Group of Companies during the 1st quarter worth approximately $340,000. Janney Montgomery Scott LLC lifted its holdings in Interpublic Group of Companies by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 24,831 shares of the business services provider’s stock worth $810,000 after buying an additional 598 shares during the period. Empirical Finance LLC boosted its position in Interpublic Group of Companies by 3.4% during the 1st quarter. Empirical Finance LLC now owns 14,040 shares of the business services provider’s stock valued at $458,000 after acquiring an additional 465 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Interpublic Group of Companies by 4.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,635 shares of the business services provider’s stock valued at $445,000 after acquiring an additional 575 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Interpublic Group of Companies by 269.9% in the 1st quarter. SG Americas Securities LLC now owns 92,030 shares of the business services provider’s stock worth $3,003,000 after buying an additional 67,152 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Macquarie restated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, Bank of America cut their price target on 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. Four research 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’s stock. According to data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Price Performance

Shares of IPG traded down $0.24 during mid-day trading on Friday, hitting $29.83. 3,709,165 shares of the company were exchanged, compared to its average volume of 4,046,329. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 5.08 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 1-year low of $28.00 and a 1-year high of $35.17. The company has a 50 day moving average of $30.90 and a 200-day moving average of $30.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.43%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

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.