The Interpublic Group of Companies, Inc. (NYSE:IPG) Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 38.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,017 shares of the business services provider’s stock after selling 81,063 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Interpublic Group of Companies were worth $3,753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. lifted its holdings in Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after purchasing an additional 900 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new stake in Interpublic Group of Companies in the 4th quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $32,000. Quest Partners LLC acquired a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $39,000. Finally, Salomon & Ludwin LLC lifted its holdings in Interpublic Group of Companies by 2,024.6% in the 1st quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 0.2 %

Shares of IPG stock opened at $31.23 on Wednesday. The stock has a market cap of $11.79 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $35.17. The stock has a fifty day moving average price of $30.88 and a 200 day moving average price of $30.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. Interpublic Group of Companies’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. Analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.23%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IPG. Bank of America reduced their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, Barclays reduced their price objective on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.00.

Interpublic Group of Companies 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.