New York State Common Retirement Fund Has $6.42 Million Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

New York State Common Retirement Fund lowered its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 25.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 236,280 shares of the business services provider's stock after selling 80,900 shares during the period. New York State Common Retirement Fund owned about 0.06% of Interpublic Group of Companies worth $6,417,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of Interpublic Group of Companies during the 1st quarter valued at $1,480,000. Asset Management One Co. Ltd. raised its holdings in shares of Interpublic Group of Companies by 2.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider's stock valued at $4,178,000 after purchasing an additional 3,547 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Interpublic Group of Companies by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider's stock valued at $1,185,000 after purchasing an additional 1,170 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Interpublic Group of Companies by 0.9% during the 4th quarter. LPL Financial LLC now owns 465,454 shares of the business services provider's stock valued at $13,042,000 after purchasing an additional 4,177 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Interpublic Group of Companies by 1.0% during the 4th quarter. Schroder Investment Management Group now owns 133,888 shares of the business services provider's stock valued at $3,721,000 after purchasing an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $24.20 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07. The firm's 50-day simple moving average is $24.28 and its 200-day simple moving average is $25.71. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The firm has a market cap of $8.95 billion, a P/E ratio of 18.47 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $0.36 EPS. The firm's revenue was down 6.9% on a year-over-year basis. As a group, research analysts expect 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.45%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 100.76%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IPG. Citigroup reiterated a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped 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 report on Thursday, July 10th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. Finally, Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $32.06.

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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