The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 646,088 shares of the business services provider's stock after selling 15,149 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Interpublic Group of Companies worth $18,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Prosperity Consulting Group LLC raised its position in shares of Interpublic Group of Companies by 2.3% in the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock valued at $595,000 after purchasing an additional 470 shares during the last quarter. Allworth Financial LP raised its position in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after buying an additional 480 shares during the last quarter. GeoWealth Management LLC raised its position in Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after buying an additional 573 shares during the last quarter. Xponance Inc. raised its position in Interpublic Group of Companies by 1.0% during the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock worth $1,677,000 after buying an additional 587 shares during the last quarter. Finally, Proactive Wealth Strategies LLC raised its position in Interpublic Group of Companies by 5.8% during the 4th quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider's stock worth $311,000 after buying an additional 607 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded down $0.68 during trading on Monday, hitting $22.96. 6,967,226 shares of the stock traded hands, compared to its average volume of 5,427,998. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 12.55 and a beta of 1.09. The company has a fifty day moving average price of $24.77 and a two-hundred day moving average price of $26.95. The Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter last year, the company earned $0.36 EPS. The firm's revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.32 annualized dividend and a yield of 5.75%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

Interpublic Group of Companies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

IPG has been the subject of a number of recent research reports. UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Barclays reduced their price target on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating for the company. Citigroup reissued a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Finally, Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.44.

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.