New York State Teachers Retirement System Has $9.06 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

New York State Teachers Retirement System cut its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,470 shares of the business services provider's stock after selling 15,170 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Interpublic Group of Companies worth $9,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB boosted its position in shares of Interpublic Group of Companies by 70.3% in the third quarter. AMF Tjanstepension AB now owns 253,172 shares of the business services provider's stock valued at $8,008,000 after acquiring an additional 104,514 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Interpublic Group of Companies by 134.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 77,237 shares of the business services provider's stock worth $2,443,000 after purchasing an additional 44,225 shares in the last quarter. Capital Investment Advisors LLC bought a new stake in Interpublic Group of Companies in the 3rd quarter valued at about $224,000. Raymond James & Associates grew its position in shares of Interpublic Group of Companies by 2.0% during the 3rd quarter. Raymond James & Associates now owns 1,620,392 shares of the business services provider's stock worth $51,253,000 after purchasing an additional 32,053 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new position in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $218,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IPG has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Argus downgraded Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday. Barclays upgraded Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. BNP Paribas raised Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target for the company in a research note on Friday, January 10th. Finally, StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research note on Friday. They set a "hold" rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of "Hold" and an average target price of $33.50.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock traded down $0.49 during midday trading on Friday, reaching $27.08. The company's stock had a trading volume of 6,038,184 shares, compared to its average volume of 5,156,288. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market cap of $10.09 billion, a PE ratio of 14.80 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 52 week low of $26.30 and a 52 week high of $35.17. The business has a 50-day moving average price of $28.09 and a 200-day moving average price of $29.74.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. On average, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.88%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 72.13%.

Interpublic Group of Companies announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

About Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.