New York State Teachers Retirement System Reduces Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

New York State Teachers Retirement System lessened its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.8% during the third quarter, Holdings Channel reports. The fund owned 338,640 shares of the business services provider’s stock after selling 20,707 shares during the period. New York State Teachers Retirement System’s holdings in Interpublic Group of Companies were worth $10,711,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. lifted its holdings in Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after buying an additional 375 shares during the period. Hazlett Burt & Watson Inc. increased its position in shares of Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position in shares of Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 405 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at $39,000. Institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IPG shares. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Barclays lowered their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Trading Up 0.3 %

NYSE:IPG opened at $29.48 on Monday. The firm has a market cap of $10.98 billion, a P/E ratio of 13.91, a PEG ratio of 4.92 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $31.15 and its 200-day simple moving average is $30.70. The Interpublic Group of Companies, Inc. has a 12-month low of $28.00 and a 12-month high of $35.17.

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

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.48%. Interpublic Group of Companies’s dividend payout ratio is currently 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.