Municipal Employees Retirement System of Michigan Has $626,000 Stake in Interpublic Group of Companies Inc (IPG)

Municipal Employees Retirement System of Michigan decreased its stake in Interpublic Group of Companies Inc (NYSE:IPG) by 38.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,020 shares of the business services provider’s stock after selling 19,710 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Interpublic Group of Companies were worth $626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $113,000. NuWave Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $129,000. MML Investors Services LLC purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $201,000. Virtu Financial LLC purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $208,000. Finally, Bank of Stockton purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $219,000. 99.49% of the stock is owned by institutional investors.

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In other Interpublic Group of Companies news, Director Jocelyn Carter-Miller sold 9,514 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $23.50, for a total transaction of $223,579.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher F. Carroll sold 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $23.62, for a total value of $496,020.00. The disclosure for this sale can be found here. Insiders have sold 448,258 shares of company stock worth $10,563,009 in the last 90 days. 1.49% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on IPG. Atlantic Securities raised Interpublic Group of Companies from an “underweight” rating to a “neutral” rating in a research report on Friday, March 2nd. Pivotal Research reaffirmed a “hold” rating and issued a $26.00 target price on shares of Interpublic Group of Companies in a research report on Monday, February 19th. Macquarie raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Friday, February 16th. Royal Bank of Canada reissued a “hold” rating and issued a $26.00 price target on shares of Interpublic Group of Companies in a report on Thursday, February 15th. Finally, Jefferies Group reissued a “neutral” rating on shares of Interpublic Group of Companies in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $25.92.

Interpublic Group of Companies Inc (IPG) opened at $22.03 on Monday. The company has a market capitalization of $8,469.87, a PE ratio of 14.99, a P/E/G ratio of 1.94 and a beta of 1.31. Interpublic Group of Companies Inc has a 1-year low of $18.30 and a 1-year high of $26.01. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.58.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Interpublic Group of Companies had a return on equity of 27.07% and a net margin of 7.35%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. Interpublic Group of Companies’s revenue for the quarter was up 3.4% on a year-over-year basis. equities analysts forecast that Interpublic Group of Companies Inc will post 1.7 EPS for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.84 annualized dividend and a yield of 3.81%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.18. Interpublic Group of Companies’s dividend payout ratio is presently 57.14%.

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Interpublic Group of Companies 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).

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

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