Interpublic Group of Companies Inc (IPG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,328 shares of the business services provider’s stock after selling 2,470 shares during the quarter. Retirement Systems of Alabama’s holdings in Interpublic Group of Companies were worth $3,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IPG. Wells Fargo & Company MN raised its holdings in Interpublic Group of Companies by 159.5% during the third quarter. Wells Fargo & Company MN now owns 7,250,126 shares of the business services provider’s stock worth $150,730,000 after purchasing an additional 4,455,788 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Interpublic Group of Companies by 9,649.2% during the third quarter. Neuberger Berman Group LLC now owns 2,442,846 shares of the business services provider’s stock worth $50,787,000 after purchasing an additional 2,417,789 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Interpublic Group of Companies by 34.0% during the third quarter. Bank of New York Mellon Corp now owns 5,683,391 shares of the business services provider’s stock worth $118,158,000 after purchasing an additional 1,442,288 shares in the last quarter. River Road Asset Management LLC raised its holdings in Interpublic Group of Companies by 62.3% during the third quarter. River Road Asset Management LLC now owns 3,234,467 shares of the business services provider’s stock worth $67,245,000 after purchasing an additional 1,240,977 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at $17,928,000. 99.88% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Inc (NYSE:IPG) opened at $24.40 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $9,598.63, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.92 and a beta of 1.45. Interpublic Group of Companies Inc has a 12 month low of $18.30 and a 12 month high of $26.01.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a net margin of 7.35% and a return on equity of 27.80%. Interpublic Group of Companies’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. equities research analysts anticipate that Interpublic Group of Companies Inc will post 1.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.21 dividend. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.18. This represents a $0.84 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, February 28th. Interpublic Group of Companies’s payout ratio is currently 48.98%.

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

IPG has been the topic of a number of recent research reports. Jefferies Group reaffirmed a “neutral” rating on shares of Interpublic Group of Companies in a report on Thursday, February 15th. BMO Capital Markets cut their target price on shares of Interpublic Group of Companies from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. TheStreet cut shares of Interpublic Group of Companies from a “b-” rating to a “c+” rating in a report on Wednesday, November 22nd. Bank of America cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Thursday, January 25th. Finally, Macquarie cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.07.

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About Interpublic Group of Companies

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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