Retirement Systems of Alabama raised its position in shares of Interpublic Group of Cos. (NYSE:IPG) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 205,152 shares of the company’s stock after buying an additional 368 shares during the period. Retirement Systems of Alabama’s holdings in Interpublic Group of Cos. were worth $4,739,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Washington Trust Bank increased its stake in Interpublic Group of Cos. by 495.3% in the second quarter. Washington Trust Bank now owns 4,465 shares of the company’s stock worth $103,000 after buying an additional 3,715 shares during the period. Checchi Capital Advisers LLC increased its stake in Interpublic Group of Cos. by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 5,479 shares of the company’s stock worth $127,000 after buying an additional 225 shares during the period. Springbok Capital Management LLC increased its stake in Interpublic Group of Cos. by 57.7% in the first quarter. Springbok Capital Management LLC now owns 8,976 shares of the company’s stock worth $206,000 after buying an additional 3,285 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Interpublic Group of Cos. during the second quarter worth $226,000. Finally, BKD Wealth Advisors LLC increased its stake in Interpublic Group of Cos. by 2.1% in the second quarter. BKD Wealth Advisors LLC now owns 10,067 shares of the company’s stock worth $233,000 after buying an additional 203 shares during the period. Hedge funds and other institutional investors own 94.54% of the company’s stock.
Shares of Interpublic Group of Cos. (NYSE:IPG) traded up 0.76% during midday trading on Friday, hitting $22.66. The stock had a trading volume of 3,336,584 shares. The company’s 50-day moving average price is $22.57 and its 200-day moving average price is $23.18. Interpublic Group of Cos. has a 12-month low of $19.79 and a 12-month high of $24.82. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 18.82 and a beta of 1.83.
Interpublic Group of Cos. (NYSE:IPG) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The business earned $1.92 billion during the quarter, compared to analyst estimates of $1.93 billion. Interpublic Group of Cos. had a return on equity of 26.26% and a net margin of 6.44%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.29 EPS. Equities research analysts forecast that Interpublic Group of Cos. will post $1.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.15 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.65%. Interpublic Group of Cos.’s payout ratio is currently 50.00%.
A number of analysts recently weighed in on the company. Credit Suisse Group AG assumed coverage on Interpublic Group of Cos. in a research note on Thursday, September 15th. They issued an “outperform” rating and a $27.00 price target on the stock. Zacks Investment Research downgraded Interpublic Group of Cos. from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. BMO Capital Markets restated a “buy” rating and issued a $26.00 price target on shares of Interpublic Group of Cos. in a research note on Friday, July 22nd. Jefferies Group restated a “buy” rating on shares of Interpublic Group of Cos. in a research note on Monday, August 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Interpublic Group of Cos. in a report on Monday, July 18th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $26.08.
In other news, SVP Ellen Tobi Johnson sold 35,765 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $22.69, for a total value of $811,507.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.75% of the stock is owned by insiders.
About Interpublic Group of Cos.
The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).
Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Cos. (NYSE:IPG).
Receive News & Ratings for Interpublic Group of Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Cos. and related companies with MarketBeat.com's FREE daily email newsletter.