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

Kentucky Retirement Systems cut its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 29,086 shares of the business services provider’s stock after selling 1,558 shares during the period. Kentucky Retirement Systems’ holdings in Interpublic Group of Companies were worth $949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of Interpublic Group of Companies by 12.1% in the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock worth $459,975,000 after purchasing an additional 1,516,975 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Interpublic Group of Companies by 12.7% during the 4th quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after acquiring an additional 777,456 shares in the last quarter. Ariel Investments LLC increased its stake in shares of Interpublic Group of Companies by 2.9% during the 1st quarter. Ariel Investments LLC now owns 5,516,550 shares of the business services provider’s stock worth $180,005,000 after purchasing an additional 154,355 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Interpublic Group of Companies by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,150,371 shares of the business services provider’s stock valued at $168,119,000 after purchasing an additional 141,828 shares during the last quarter. Finally, Fiduciary Management Inc. WI grew its position in shares of Interpublic Group of Companies by 4.2% in the fourth quarter. Fiduciary Management Inc. WI now owns 3,797,972 shares of the business services provider’s stock valued at $123,966,000 after purchasing an additional 153,857 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 1.1 %

Interpublic Group of Companies stock traded up $0.33 during mid-day trading on Monday, reaching $31.31. The company’s stock had a trading volume of 843,352 shares, compared to its average volume of 3,942,255. The business’s 50 day simple moving average is $29.97 and its 200 day simple moving average is $31.22. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $35.24. The company has a market capitalization of $11.76 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.32 annualized dividend and a yield of 4.22%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IPG shares. Macquarie dropped their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Barclays lowered their target price on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company cut their price objective 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, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.13.

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.