The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 750,645 shares of the business services provider’s stock after selling 41,886 shares during the quarter. California Public Employees Retirement System’s holdings in Interpublic Group of Companies were worth $24,501,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Black Creek Investment Management Inc. raised its stake in Interpublic Group of Companies by 14.1% during the third quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock worth $278,649,000 after purchasing an additional 1,204,630 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Interpublic Group of Companies by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,291,211 shares of the business services provider’s stock valued at $266,286,000 after acquiring an additional 167,810 shares during the period. Boston Partners raised its stake in shares of Interpublic Group of Companies by 5.2% in the 3rd quarter. Boston Partners now owns 8,385,274 shares of the business services provider’s stock valued at $240,317,000 after acquiring an additional 414,110 shares during the period. American Century Companies Inc. raised its stake in shares of Interpublic Group of Companies by 24.6% in the 3rd quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock valued at $132,852,000 after acquiring an additional 916,574 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Interpublic Group of Companies by 5.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,038,225 shares of the business services provider’s stock valued at $87,076,000 after acquiring an additional 160,312 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock opened at $31.47 on Monday. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $40.95. The company has a market capitalization of $11.88 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s fifty day moving average price is $31.89 and its 200 day moving average price is $31.40.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.33 dividend. The ex-dividend date was Thursday, February 29th. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 4.19%. Interpublic Group of Companies’s payout ratio is 46.98%.

Insider Activity

In other news, CFO Ellen Tobi Johnson sold 40,393 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,300,654.60. Following the completion of the transaction, the chief financial officer now directly owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at approximately $1,364,958. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the sale, the chief financial officer now owns 88,350 shares in the company, valued at $2,844,870. The disclosure for this sale can be found here. In the last three months, insiders sold 249,646 shares of company stock valued at $8,038,601. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IPG shares. Barclays raised their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. UBS Group started coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $35.13.

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.