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

New York State Teachers Retirement System reduced its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,766 shares of the business services provider's stock after selling 27,704 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Interpublic Group of Companies worth $8,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of Interpublic Group of Companies by 69.5% during the fourth quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider's stock worth $204,000 after acquiring an additional 2,991 shares in the last quarter. Assetmark Inc. raised its stake in shares of Interpublic Group of Companies by 3.0% during the fourth quarter. Assetmark Inc. now owns 42,496 shares of the business services provider's stock worth $1,191,000 after acquiring an additional 1,238 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Interpublic Group of Companies during the fourth quarter worth approximately $2,325,000. Arizona State Retirement System raised its stake in shares of Interpublic Group of Companies by 0.9% during the fourth quarter. Arizona State Retirement System now owns 109,092 shares of the business services provider's stock worth $3,057,000 after acquiring an additional 961 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Interpublic Group of Companies during the fourth quarter worth approximately $51,794,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Citigroup reaffirmed a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies currently has an average rating of "Hold" and a consensus price target of $32.72.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $25.38 on Friday. The stock has a market cap of $9.38 billion, a P/E ratio of 19.37 and a beta of 1.05. The firm's fifty day simple moving average is $24.35 and its 200 day simple moving average is $25.99. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month 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 0.80.

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 for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The firm's revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 100.76%.

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.

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