New Mexico Educational Retirement Board reduced its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.8% during the second quarter, Holdings Channel reports. The institutional investor owned 36,716 shares of the business services provider’s stock after selling 3,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Interpublic Group of Companies, Inc. (The) were worth $793,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Interpublic Group of Companies, Inc. (The) by 15.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,878,350 shares of the business services provider’s stock worth $46,206,000 after buying an additional 247,275 shares during the last quarter. Bancorpsouth Inc. boosted its stake in shares of Interpublic Group of Companies, Inc. (The) by 34.4% in the first quarter. Bancorpsouth Inc. now owns 13,704 shares of the business services provider’s stock worth $337,000 after buying an additional 3,508 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Interpublic Group of Companies, Inc. (The) by 2.0% in the first quarter. Bank of Montreal Can now owns 156,301 shares of the business services provider’s stock worth $3,841,000 after buying an additional 3,119 shares during the last quarter. Montag A & Associates Inc. boosted its stake in shares of Interpublic Group of Companies, Inc. (The) by 532.1% in the first quarter. Montag A & Associates Inc. now owns 116,300 shares of the business services provider’s stock worth $2,857,000 after buying an additional 97,900 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Interpublic Group of Companies, Inc. (The) by 3.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 51,094 shares of the business services provider’s stock worth $1,255,000 after buying an additional 1,490 shares during the last quarter. 98.30% of the stock is owned by institutional investors.

Interpublic Group of Companies, Inc. (NYSE:IPG) opened at 20.98 on Wednesday. Interpublic Group of Companies, Inc. has a 1-year low of $20.65 and a 1-year high of $25.71. The firm has a market capitalization of $8.25 billion, a PE ratio of 15.10 and a beta of 1.53. The company’s 50-day moving average is $23.29 and its 200 day moving average is $24.06.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last posted its earnings results on Tuesday, July 25th. The business services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.07. Interpublic Group of Companies, Inc. (The) had a return on equity of 27.72% and a net margin of 7.19%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts expect that Interpublic Group of Companies, Inc. will post $1.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, August 30th. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio is currently 51.80%.

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A number of analysts have recently weighed in on IPG shares. Jefferies Group LLC restated a “buy” rating and issued a $27.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, July 17th. Royal Bank Of Canada cut shares of Interpublic Group of Companies, Inc. (The) from a “top pick” rating to a “sector perform” rating and reduced their price objective for the stock from $29.00 to $24.00 in a research note on Wednesday, July 26th. BidaskClub upgraded shares of Interpublic Group of Companies, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $24.00 price objective (down from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $26.07.

In other news, SVP Julie Connors sold 5,854 shares of Interpublic Group of Companies, Inc. (The) stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $24.26, for a total transaction of $142,018.04. Following the completion of the sale, the senior vice president now owns 10,592 shares of the company’s stock, valued at $256,961.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.49% of the stock is currently owned by company insiders.

Interpublic Group of Companies, Inc. (The) Company Profile

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

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Institutional Ownership by Quarter for Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

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