Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Interpublic Group of Companies by 14.3%, now owning 103,997 shares valued at approximately $2.83 million.
• Interpublic Group's latest earnings report indicated an EPS of $0.75, exceeding expectations of $0.55, despite a 6.6% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.33 per share, translating to an annualized dividend yield of 5.0%, with a payout ratio of 111.86%.

State of New Jersey Common Pension Fund D lessened its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 14.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,997 shares of the business services provider's stock after selling 17,399 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Interpublic Group of Companies were worth $2,825,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Prosperity Consulting Group LLC increased its stake in shares of Interpublic Group of Companies by 2.3% during the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock worth $595,000 after buying an additional 470 shares during the period. Penserra Capital Management LLC increased its stake in shares of Interpublic Group of Companies by 3.8% during the first quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider's stock worth $410,000 after buying an additional 552 shares during the period. Diversified Trust Co increased its stake in shares of Interpublic Group of Companies by 0.5% during the first quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock worth $3,257,000 after buying an additional 572 shares during the period. GeoWealth Management LLC increased its stake in shares of Interpublic Group of Companies by 20.7% during the fourth 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 period. Finally, Palouse Capital Management Inc. increased its stake in shares of Interpublic Group of Companies by 1.1% during the first quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider's stock worth $1,487,000 after buying an additional 574 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $26.6050 on Thursday. The firm has a market capitalization of $9.74 billion, a P/E ratio of 22.55 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The firm's 50 day moving average is $24.86 and its two-hundred day moving average is $25.32.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm's revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. Research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. Interpublic Group of Companies's dividend payout ratio (DPR) is 111.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group cut their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.39.

Interpublic Group of Companies 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.

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