California State Teachers Retirement System Increases Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

California State Teachers Retirement System grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 791,886 shares of the business services provider’s stock after purchasing an additional 67,891 shares during the period. California State Teachers Retirement System’s holdings in The Interpublic Group of Companies were worth $23,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Atlas Capital Advisors LLC raised its holdings in shares of The Interpublic Group of Companies by 3.2% in the first quarter. Atlas Capital Advisors LLC now owns 10,776 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 337 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in The Interpublic Group of Companies by 0.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,182 shares of the business services provider’s stock worth $1,523,000 after buying an additional 346 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in The Interpublic Group of Companies by 1.5% during the first quarter. Elo Mutual Pension Insurance Co now owns 28,138 shares of the business services provider’s stock worth $822,000 after buying an additional 415 shares during the last quarter. Institutional & Family Asset Management LLC increased its holdings in The Interpublic Group of Companies by 14.4% during the first quarter. Institutional & Family Asset Management LLC now owns 3,682 shares of the business services provider’s stock worth $108,000 after buying an additional 463 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in The Interpublic Group of Companies by 4.8% during the first quarter. MML Investors Services LLC now owns 10,143 shares of the business services provider’s stock worth $296,000 after buying an additional 467 shares during the last quarter. Institutional investors own 98.77% of the company’s stock.

A number of analysts recently issued reports on IPG shares. BMO Capital Markets downgraded shares of The Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $30.00 to $34.00 in a report on Wednesday, April 28th. Barclays reiterated an “overweight” rating on shares of The Interpublic Group of Companies in a research note on Friday, July 2nd. Morgan Stanley lifted their target price on shares of The Interpublic Group of Companies from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, July 2nd. Finally, Wells Fargo & Company lifted their target price on shares of The Interpublic Group of Companies from $26.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $29.56.

In other The Interpublic Group of Companies news, Director Mary Guilfoile sold 12,075 shares of The Interpublic Group of Companies stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $33.45, for a total transaction of $403,908.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael Isor Roth sold 100,000 shares of The Interpublic Group of Companies stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $32.49, for a total transaction of $3,249,000.00. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

IPG stock opened at $34.81 on Thursday. The Interpublic Group of Companies, Inc. has a 12 month low of $15.92 and a 12 month high of $35.64. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.36 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day moving average price of $32.84.

The Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, July 21st. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.27. The Interpublic Group of Companies had a net margin of 4.89% and a return on equity of 29.27%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the business posted $0.23 earnings per share. The Interpublic Group of Companies’s revenue for the quarter was up 22.5% on a year-over-year basis. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 21st. Shareholders of record on Monday, June 7th were given a dividend of $0.27 per share. The ex-dividend date was Friday, June 4th. This represents a $1.08 annualized dividend and a yield of 3.10%. The Interpublic Group of Companies’s payout ratio is presently 62.43%.

The Interpublic Group of Companies Profile

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 management services.

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

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