California Public Employees Retirement System Sells 41,886 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

California Public Employees Retirement System cut its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 750,645 shares of the business services provider’s stock after selling 41,886 shares during the quarter. California Public Employees Retirement System owned about 0.20% of Interpublic Group of Companies worth $24,501,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Interpublic Group of Companies by 85.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock worth $7,491,000 after buying an additional 105,858 shares during the last quarter. Vest Financial LLC lifted its position in shares of Interpublic Group of Companies by 30.9% during the fourth quarter. Vest Financial LLC now owns 392,769 shares of the business services provider’s stock worth $12,820,000 after purchasing an additional 92,692 shares during the last quarter. abrdn plc lifted its position in shares of Interpublic Group of Companies by 23.1% during the fourth quarter. abrdn plc now owns 488,980 shares of the business services provider’s stock worth $15,960,000 after purchasing an additional 91,894 shares during the last quarter. New York Life Investment Management LLC lifted its position in shares of Interpublic Group of Companies by 32.5% during the third quarter. New York Life Investment Management LLC now owns 99,678 shares of the business services provider’s stock worth $2,857,000 after purchasing an additional 24,459 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Interpublic Group of Companies by 16.2% during the third quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock worth $9,688,000 after purchasing an additional 47,184 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the sale, the chief financial officer now owns 88,350 shares in the company, valued at $2,844,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the sale, the chief financial officer now owns 88,350 shares in the company, valued at $2,844,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philippe Krakowsky sold 150,403 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $4,842,976.60. Following the sale, the chief executive officer now owns 415,776 shares in the company, valued at approximately $13,387,987.20. The disclosure for this sale can be found here. Insiders have sold 249,646 shares of company stock worth $8,038,601 over the last quarter. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IPG shares. JPMorgan Chase & Co. decreased their target price on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Barclays lifted their target price on Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Wells Fargo & Company decreased their target price on 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. Finally, UBS Group assumed coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.13.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $31.47 on Monday. The stock’s fifty day moving average price is $31.89 and its 200-day moving average price is $31.40. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $40.95. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a market cap of $11.88 billion, a P/E ratio of 11.20, a P/E/G ratio of 2.30 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.19%. The ex-dividend date was Thursday, February 29th. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. 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.