New York State Teachers Retirement System Lowers Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

New York State Teachers Retirement System lowered its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,640 shares of the business services provider's stock after selling 20,707 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Interpublic Group of Companies worth $10,711,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Millennium Management LLC increased its holdings in Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider's stock valued at $42,657,000 after purchasing an additional 1,248,062 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Interpublic Group of Companies by 19.8% during the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider's stock worth $158,157,000 after buying an additional 899,332 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Interpublic Group of Companies by 101.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider's stock valued at $55,162,000 after buying an additional 853,287 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Interpublic Group of Companies by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider's stock valued at $199,063,000 after buying an additional 828,150 shares during the period. Finally, Swedbank AB acquired a new position in Interpublic Group of Companies during the 1st quarter worth about $20,493,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Up 0.1 %

Shares of Interpublic Group of Companies stock traded up $0.02 during trading hours on Monday, hitting $29.50. The company had a trading volume of 2,364,410 shares, compared to its average volume of 3,910,122. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a twelve month low of $28.00 and a twelve month high of $35.17. The company has a market cap of $10.99 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 4.92 and a beta of 1.10. The company's 50-day moving average is $31.15 and its two-hundred day moving average is $30.70.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.70. The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business's revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies's dividend payout ratio is currently 62.26%.

Analyst Ratings Changes

IPG has been the topic of a number of recent research reports. StockNews.com raised shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a research report on Thursday. Bank of America reduced their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, September 5th. BNP Paribas cut Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a research note on Monday, September 30th. Macquarie restated a "neutral" rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, UBS Group cut shares of Interpublic Group of Companies from a "neutral" rating to a "sell" rating and reduced their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.57.

Interpublic Group of Companies Company Profile

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.