California State Teachers Retirement System Purchases 10,620 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

California State Teachers Retirement System grew its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641,724 shares of the business services provider’s stock after buying an additional 10,620 shares during the quarter. California State Teachers Retirement System owned 0.17% of Interpublic Group of Companies worth $20,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IPG. Bank of New York Mellon Corp raised its holdings 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 worth $459,975,000 after purchasing an additional 1,516,975 shares during the period. First Trust Advisors LP grew its stake in Interpublic Group of Companies by 12.7% in the 4th quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after buying an additional 777,456 shares in the last quarter. Ariel Investments LLC grew its stake in 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 buying an additional 154,355 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Interpublic Group of Companies by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,150,371 shares of the business services provider’s stock valued at $168,119,000 after buying an additional 141,828 shares in the last quarter. Finally, Fiduciary Management Inc. WI grew its stake in Interpublic Group of Companies by 4.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 3,797,972 shares of the business services provider’s stock valued at $123,966,000 after buying an additional 153,857 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 1.6 %

Interpublic Group of Companies stock traded down $0.51 during mid-day trading on Thursday, hitting $31.66. The company’s stock had a trading volume of 648,615 shares, compared to its average volume of 4,011,286. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 3.40 and a beta of 1.12. The business has a 50 day moving average price of $29.97 and a 200-day moving average price of $31.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $35.24.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company’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 earnings per share. As a group, analysts forecast that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.98%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IPG. Barclays reduced their price target on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research 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 for the company in a research report on Friday, July 12th. Bank of America cut their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Finally, 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 for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.13.

About Interpublic Group of Companies

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.