Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,120 shares of the business services provider’s stock after selling 1,053 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Interpublic Group of Companies were worth $352,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of IPG. Avantax Advisory Services Inc. purchased a new position in Interpublic Group of Companies in the 1st quarter worth about $310,000. O Shaughnessy Asset Management LLC raised its position in Interpublic Group of Companies by 0.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 146,467 shares of the business services provider’s stock worth $4,779,000 after buying an additional 584 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Interpublic Group of Companies by 580.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 32,832 shares of the business services provider’s stock valued at $1,071,000 after purchasing an additional 28,004 shares during the period. Bessemer Group Inc. grew its stake in shares of Interpublic Group of Companies by 202.4% during the 1st quarter. Bessemer Group Inc. now owns 56,389 shares of the business services provider’s stock valued at $1,840,000 after purchasing an additional 37,740 shares during the period. Finally, Pitcairn Co. grew its stake in shares of Interpublic Group of Companies by 75.3% during the 1st quarter. Pitcairn Co. now owns 21,457 shares of the business services provider’s stock valued at $700,000 after purchasing an additional 9,216 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 0.5 %

Shares of NYSE:IPG opened at $27.66 on Wednesday. The stock has a 50 day moving average of $30.55 and a 200 day moving average of $30.57. The company has a market cap of $10.30 billion, a PE ratio of 13.05 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 Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm posted $0.70 EPS. The company’s revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 62.26%.

Analyst Ratings Changes

A number of research firms have issued reports on IPG. Macquarie restated 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 restated 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. Bank of America cut their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Finally, UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price target for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.57.

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.