Kentucky Retirement Systems Sells 645 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kentucky Retirement Systems reduced its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,441 shares of the business services provider’s stock after selling 645 shares during the period. Kentucky Retirement Systems’ holdings in Interpublic Group of Companies were worth $827,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPG. Bank of New York Mellon Corp boosted its stake in shares of Interpublic Group of Companies by 12.1% in the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after purchasing an additional 1,516,975 shares during the last quarter. First Trust Advisors LP boosted its position in Interpublic Group of Companies by 12.7% during the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after acquiring an additional 777,456 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after acquiring an additional 828,150 shares during the period. American Century Companies Inc. raised its position in shares of Interpublic Group of Companies by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock worth $163,049,000 after acquiring an additional 255,250 shares in the last quarter. Finally, Ariel Investments LLC lifted its stake in shares of Interpublic Group of Companies by 2.9% in the 1st quarter. Ariel Investments LLC now owns 5,516,550 shares of the business services provider’s stock valued at $180,005,000 after purchasing an additional 154,355 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IPG shares. Macquarie lowered their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. cut their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Bank of America dropped their price objective 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. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Finally, UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $33.00.

Interpublic Group of Companies Price Performance

IPG stock opened at $31.11 on Friday. The company has a market capitalization of $11.74 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17. The business has a 50-day simple moving average of $31.02 and a two-hundred day simple moving average of $30.95. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. Interpublic Group of Companies’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. Research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.33 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.24%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.98%.

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.