New York State Common Retirement Fund Cuts Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

New York State Common Retirement Fund decreased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 548,923 shares of the business services provider’s stock after selling 26,581 shares during the period. New York State Common Retirement Fund owned about 0.14% of Interpublic Group of Companies worth $17,917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IPG. Czech National Bank increased its stake in shares of Interpublic Group of Companies by 47.2% during the third quarter. Czech National Bank now owns 67,278 shares of the business services provider’s stock worth $1,928,000 after purchasing an additional 21,579 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Interpublic Group of Companies by 2.8% during the third quarter. Asset Management One Co. Ltd. now owns 179,907 shares of the business services provider’s stock worth $5,156,000 after purchasing an additional 4,892 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Interpublic Group of Companies by 10.6% during the third quarter. Commonwealth Equity Services LLC now owns 56,942 shares of the business services provider’s stock worth $1,632,000 after purchasing an additional 5,445 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Interpublic Group of Companies by 3.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 208,654 shares of the business services provider’s stock worth $5,980,000 after purchasing an additional 7,700 shares in the last quarter. Finally, Bridgewater Advisors Inc. purchased a new stake in shares of Interpublic Group of Companies during the third quarter worth about $1,170,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $31.47 on Monday. The company’s 50-day moving average is $31.89 and its two-hundred day moving average is $31.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $40.95. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.30 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.33 dividend. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Thursday, February 29th. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. UBS Group began coverage on shares of Interpublic Group of Companies in a report on Thursday, January 11th. They issued a “neutral” rating and a $36.00 target price on the stock. Finally, Barclays boosted their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.13.

Insider Transactions at Interpublic Group of Companies

In other news, CAO Christopher F. Carroll sold 18,382 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the transaction, the chief accounting officer now directly owns 42,390 shares in the company, valued at approximately $1,364,958. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at approximately $1,364,958. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ellen Tobi Johnson sold 40,393 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the sale, the chief financial officer now owns 88,350 shares in the company, valued at $2,844,870. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,646 shares of company stock worth $8,038,601. 0.42% of the stock is currently owned by insiders.

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.