California Public Employees Retirement System Sells 60,308 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

California Public Employees Retirement System decreased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 626,664 shares of the business services provider’s stock after selling 60,308 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Interpublic Group of Companies worth $17,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after purchasing an additional 480 shares during the period. OFI Invest Asset Management bought a new position in Interpublic Group of Companies in the fourth quarter worth approximately $36,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Interpublic Group of Companies during the 3rd quarter worth $107,000. Virtu Financial LLC bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at $206,000. Finally, Quarry LP increased its stake in shares of Interpublic Group of Companies by 72.9% in the 3rd quarter. Quarry LP now owns 6,529 shares of the business services provider’s stock worth $207,000 after purchasing an additional 2,752 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Down 3.6 %

IPG stock opened at $23.70 on Friday. The firm has a market cap of $8.83 billion, a PE ratio of 12.95 and a beta of 1.14. The firm has a fifty day moving average price of $27.13 and a 200 day moving average price of $28.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a fifty-two week low of $23.67 and a fifty-two week high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Interpublic Group of Companies declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to buyback $155.00 million in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

IPG has been the subject of several recent research reports. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. StockNews.com began coverage on shares of Interpublic Group of Companies in a report on Wednesday. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.50.

Insider Transactions at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the transaction, the chief financial officer now owns 143,373 shares of the company’s stock, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Interpublic Group of Companies 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.