Illinois Municipal Retirement Fund Has $1.69 Million Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Illinois Municipal Retirement Fund reduced its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 38.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 66,101 shares of the business services provider’s stock after selling 41,196 shares during the period. Illinois Municipal Retirement Fund’s holdings in Interpublic Group of Companies were worth $1,692,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IPG. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Interpublic Group of Companies by 14.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,035 shares of the business services provider’s stock worth $817,000 after purchasing an additional 2,915 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in shares of Interpublic Group of Companies during the 1st quarter worth $243,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Interpublic Group of Companies during the 1st quarter worth $133,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Interpublic Group of Companies by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,667 shares of the business services provider’s stock worth $1,867,000 after buying an additional 3,244 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Interpublic Group of Companies by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 63,184 shares of the business services provider’s stock worth $2,240,000 after buying an additional 595 shares during the last quarter. 96.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IPG has been the subject of several recent analyst reports. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their target price on Interpublic Group of Companies from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America upgraded Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and increased their target price for the company from $22.00 to $36.00 in a research report on Thursday, January 5th. Finally, Morgan Stanley increased their target price on Interpublic Group of Companies from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, December 19th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Interpublic Group of Companies Trading Up 0.7 %

Shares of IPG stock opened at $36.51 on Tuesday. The stock has a 50-day moving average of $33.92 and a 200-day moving average of $30.43. The Interpublic Group of Companies, Inc. has a 1-year low of $25.14 and a 1-year high of $39.98. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 3.63 and a beta of 1.08. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its earnings results on Friday, October 21st. The business services provider reported $0.63 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.29 billion. On average, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.74 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

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

Interpublic Group of Companies Company Profile

(Get Rating)

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

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

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