Central Pacific Bank Trust Division Makes New $146,000 Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Central Pacific Bank Trust Division bought a new position in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,500 shares of the business services provider’s stock, valued at approximately $146,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Interpublic Group of Companies by 12.1% in the first quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after buying an additional 1,516,975 shares during the period. Norges Bank acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at about $32,620,000. American Century Companies Inc. increased its stake in shares of Interpublic Group of Companies by 24.6% in the third quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock valued at $132,852,000 after buying an additional 916,574 shares during the period. First Trust Advisors LP increased its stake in shares of Interpublic Group of Companies by 12.7% in the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after buying an additional 777,456 shares during the period. Finally, KBC Group NV increased its stake in shares of Interpublic Group of Companies by 101.9% in the fourth quarter. KBC Group NV now owns 1,068,063 shares of the business services provider’s stock valued at $34,862,000 after buying an additional 538,935 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IPG. Wells Fargo & Company cut their target price on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Bank of America cut their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Interpublic Group of Companies Stock Up 0.9 %

NYSE:IPG traded up $0.27 on Wednesday, hitting $28.78. The stock had a trading volume of 399,536 shares, compared to its average volume of 3,894,376. The business’s fifty day moving average is $30.33 and its 200 day moving average is $31.49. The company has a market cap of $10.86 billion, a PE ratio of 10.15, a P/E/G ratio of 3.02 and a beta of 1.12. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 52 week low of $27.20 and a 52 week high of $40.90.

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

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

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.