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

Teachers Retirement System of The State of Kentucky trimmed its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,439 shares of the business services provider’s stock after selling 2,184 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Interpublic Group of Companies were worth $899,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares during the period. Millennium Management LLC lifted its holdings in Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after acquiring an additional 1,248,062 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Interpublic Group of Companies by 19.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after purchasing an additional 899,332 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after purchasing an additional 828,150 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of Interpublic Group of Companies by 168.3% during the 2nd quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider’s stock valued at $24,186,000 after purchasing an additional 521,546 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 0.3 %

Shares of NYSE IPG opened at $29.07 on Thursday. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17. 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 has a market cap of $10.83 billion, a PE ratio of 13.71 and a beta of 1.10. The company has a 50-day moving average of $29.96 and a 200 day moving average of $30.33.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. Interpublic Group of Companies’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. As a group, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IPG. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. StockNews.com assumed coverage on Interpublic Group of Companies in a research note on Thursday. They issued a “hold” rating for the company. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, Barclays decreased their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.71.

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.