The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,180 shares of the business services provider’s stock after selling 19,500 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Interpublic Group of Companies worth $8,887,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Rosenberg Matthew Hamilton increased its holdings in shares of Interpublic Group of Companies by 9.7% in the third quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 365 shares during the period. Empirical Finance LLC increased its holdings in Interpublic Group of Companies by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock worth $1,031,000 after buying an additional 409 shares during the period. West Oak Capital LLC raised its position in Interpublic Group of Companies by 0.8% during the 4th quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock worth $1,558,000 after buying an additional 435 shares during the last quarter. Allworth Financial LP lifted its stake in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 480 shares during the period. Finally, Proactive Wealth Strategies LLC boosted its holdings in shares of Interpublic Group of Companies by 5.8% in the 4th quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after acquiring an additional 607 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Up 0.7 %

Shares of IPG stock opened at $27.78 on Wednesday. The stock has a 50 day simple moving average of $27.98 and a 200-day simple moving average of $29.70. The Interpublic Group of Companies, Inc. has a 1-year low of $26.30 and a 1-year high of $35.17. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 15.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. On average, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s payout ratio is 72.13%.

Interpublic Group of Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IPG shares. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $39.00 in a research report on Monday, January 27th. StockNews.com began coverage on Interpublic Group of Companies in a research note on Friday, February 21st. They issued a “hold” rating on the stock. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given 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 $33.50.

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.