The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,166 shares of the business services provider’s stock after selling 2,275 shares during the quarter. Kentucky Retirement Systems’ holdings in Interpublic Group of Companies were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Interpublic Group of Companies by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares in the last quarter. Ariel Investments LLC raised its holdings in shares of Interpublic Group of Companies by 3.5% in the 2nd quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock valued at $166,117,000 after purchasing an additional 193,898 shares in the last quarter. American Century Companies Inc. raised its stake in Interpublic Group of Companies by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock worth $163,049,000 after acquiring an additional 255,250 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Interpublic Group of Companies by 19.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after acquiring an additional 899,332 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Interpublic Group of Companies by 7.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,277,771 shares of the business services provider’s stock worth $72,041,000 after acquiring an additional 157,695 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IPG. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Macquarie reiterated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Finally, StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Trading Up 0.5 %

Shares of Interpublic Group of Companies stock opened at $27.66 on Wednesday. The Interpublic Group of Companies, Inc. has a 1 year low of $26.88 and a 1 year high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $10.30 billion, a P/E ratio of 13.05 and a beta of 1.10. The company’s fifty day moving average is $30.55 and its two-hundred day moving average is $30.57.

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

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 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.