City Holding Co. Has $1.19 Million Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

City Holding Co. lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 15.2% in the first quarter, Holdings Channel reports. The institutional investor owned 36,527 shares of the business services provider’s stock after selling 6,569 shares during the period. City Holding Co.’s holdings in Interpublic Group of Companies were worth $1,192,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Ballentine Partners LLC raised its position in shares of Interpublic Group of Companies by 10.3% during the first quarter. Ballentine Partners LLC now owns 12,867 shares of the business services provider’s stock valued at $420,000 after buying an additional 1,200 shares during the last quarter. Buckingham Capital Management Inc. raised its position in Interpublic Group of Companies by 4.5% in the first quarter. Buckingham Capital Management Inc. now owns 37,734 shares of the business services provider’s stock worth $1,231,000 after purchasing an additional 1,629 shares in the last quarter. Perpetual Ltd raised its position in Interpublic Group of Companies by 4.2% in the first quarter. Perpetual Ltd now owns 501,333 shares of the business services provider’s stock worth $16,429,000 after purchasing an additional 20,000 shares in the last quarter. Alaska Permanent Fund Corp increased its holdings in shares of Interpublic Group of Companies by 305.6% during the first quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock worth $1,766,000 after buying an additional 40,785 shares in the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Interpublic Group of Companies in the first quarter valued at approximately $90,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped their price objective on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.13.

Interpublic Group of Companies Stock Up 0.2 %

NYSE IPG traded up $0.05 on Monday, reaching $29.51. The company had a trading volume of 697,828 shares, compared to its average volume of 3,795,927. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 2.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.06. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $40.90. The company’s fifty day moving average is $30.83 and its 200-day moving average is $31.78.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business earned $0.38 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $0.33 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.47%. Interpublic Group of Companies’s payout ratio is 46.98%.

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.