Teacher Retirement System of Texas Makes New Investment in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Teacher Retirement System of Texas acquired a new stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 54,489 shares of the business services provider's stock, valued at approximately $1,480,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Sentry Investment Management LLC bought a new stake in shares of Interpublic Group of Companies in the first quarter worth $31,000. Raiffeisen Bank International AG purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $42,000. FNY Investment Advisers LLC purchased a new stake in Interpublic Group of Companies during the first quarter valued at approximately $44,000. Grove Bank & Trust grew its stake in shares of Interpublic Group of Companies by 1,219.5% during the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after buying an additional 2,000 shares during the last quarter. Finally, GeoWealth Management LLC grew 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 valued at $94,000 after buying an additional 573 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IPG has been the topic of several analyst reports. Wall Street Zen started coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, Citigroup reissued a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies has an average rating of "Hold" and a consensus price target of $32.06.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded down $0.54 during trading hours on Tuesday, hitting $24.20. The stock had a trading volume of 8,323,899 shares, compared to its average volume of 5,931,306. The stock's fifty day simple moving average is $24.34 and its 200 day simple moving average is $25.81. 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 has a market capitalization of $8.95 billion, a price-to-earnings ratio of 18.47 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion during 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 business's revenue was down 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. Sell-side analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date was Monday, June 2nd. Interpublic Group of Companies's payout ratio is 100.76%.

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.