54,489 Shares in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 54,489 shares of the business services provider's stock, valued at approximately $1,480,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Interpublic Group of Companies by 5.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 88,425 shares of the business services provider's stock worth $2,402,000 after acquiring an additional 4,572 shares during the last quarter. Patron Partners LLC boosted its position in shares of Interpublic Group of Companies by 19.3% during the first quarter. Patron Partners LLC now owns 21,912 shares of the business services provider's stock worth $595,000 after buying an additional 3,544 shares during the period. Elevated Capital Advisors LLC boosted its position in shares of Interpublic Group of Companies by 3.9% during the first quarter. Elevated Capital Advisors LLC now owns 29,680 shares of the business services provider's stock worth $806,000 after buying an additional 1,101 shares during the period. Centerline Wealth Advisors LLC bought a new stake in Interpublic Group of Companies during the first quarter worth approximately $982,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Interpublic Group of Companies by 9.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 357,374 shares of the business services provider's stock worth $9,395,000 after purchasing an additional 30,288 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 1.0%

NYSE IPG traded down $0.24 during trading hours on Friday, hitting $24.76. 5,409,953 shares of the company traded hands, compared to its average volume of 5,909,582. The business's 50-day moving average is $24.35 and its 200-day moving average is $25.87. 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 debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 18.90 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. 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 year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.33%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday. Citigroup reaffirmed a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Wall Street Zen started coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating for the company. Finally, Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the company 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.