Illinois Municipal Retirement Fund Sells 41,196 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Illinois Municipal Retirement Fund cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 38.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,101 shares of the business services provider’s stock after selling 41,196 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Interpublic Group of Companies were worth $1,692,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IPG. Hartford Investment Management Co. raised its holdings in shares of Interpublic Group of Companies by 0.9% in the second quarter. Hartford Investment Management Co. now owns 37,661 shares of the business services provider’s stock valued at $1,037,000 after buying an additional 345 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Interpublic Group of Companies by 0.3% in the second quarter. Arizona State Retirement System now owns 109,951 shares of the business services provider’s stock valued at $3,027,000 after buying an additional 346 shares during the last quarter. Paradigm Financial Partners LLC raised its holdings in shares of Interpublic Group of Companies by 1.5% in the second quarter. Paradigm Financial Partners LLC now owns 25,040 shares of the business services provider’s stock valued at $698,000 after buying an additional 360 shares during the last quarter. Edge Capital Group LLC bought a new position in shares of Interpublic Group of Companies in the second quarter valued at about $102,000. Finally, US Bancorp DE raised its holdings in shares of Interpublic Group of Companies by 1.4% in the third quarter. US Bancorp DE now owns 29,090 shares of the business services provider’s stock valued at $744,000 after buying an additional 401 shares during the last quarter. 96.75% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Up 0.7 %

NYSE:IPG opened at $36.51 on Tuesday. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.14 and a fifty-two week high of $39.98. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $14.18 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 3.63 and a beta of 1.08. The business’s 50-day simple moving average is $33.92 and its 200-day simple moving average is $30.43.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its quarterly earnings data on Friday, October 21st. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Interpublic Group of Companies had a return on equity of 28.78% and a net margin of 9.18%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.74 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Wednesday, November 30th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.03%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com assumed coverage on Interpublic Group of Companies in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley lifted their price objective on Interpublic Group of Companies from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, December 19th. Bank of America upgraded Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $22.00 to $36.00 in a research report on Thursday, January 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Interpublic Group of Companies from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

About Interpublic Group of Companies

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

Further Reading

Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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