Teacher Retirement System of Texas Boosts Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Teacher Retirement System of Texas increased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 144.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 307,959 shares of the business services provider’s stock after purchasing an additional 182,226 shares during the period. Teacher Retirement System of Texas’ holdings in The Interpublic Group of Companies were worth $8,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IPG. Wells Fargo & Company MN boosted its holdings in shares of The Interpublic Group of Companies by 404.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,944,478 shares of the business services provider’s stock valued at $116,293,000 after buying an additional 3,965,012 shares in the last quarter. FMR LLC lifted its position in The Interpublic Group of Companies by 7.2% during the 4th quarter. FMR LLC now owns 45,790,051 shares of the business services provider’s stock valued at $1,076,982,000 after acquiring an additional 3,065,758 shares during the period. Norges Bank purchased a new position in The Interpublic Group of Companies during the 4th quarter valued at about $55,223,000. BlackRock Inc. lifted its position in The Interpublic Group of Companies by 5.4% during the 1st quarter. BlackRock Inc. now owns 35,318,530 shares of the business services provider’s stock valued at $1,031,301,000 after acquiring an additional 1,824,199 shares during the period. Finally, Ceredex Value Advisors LLC lifted its position in The Interpublic Group of Companies by 111.4% during the 4th quarter. Ceredex Value Advisors LLC now owns 3,069,732 shares of the business services provider’s stock valued at $72,200,000 after acquiring an additional 1,617,832 shares during the period. Institutional investors and hedge funds own 98.57% of the company’s stock.

A number of brokerages recently issued reports on IPG. Wells Fargo & Company lifted their price target on shares of The Interpublic Group of Companies from $26.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Morgan Stanley lifted their price target on shares of The Interpublic Group of Companies from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, February 11th. Finally, BMO Capital Markets cut shares of The Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $30.00 to $34.00 in a research report on Wednesday, April 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The Interpublic Group of Companies presently has an average rating of “Buy” and a consensus target price of $29.00.

In other news, Chairman Michael Isor Roth sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $32.49, for a total transaction of $3,249,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Guilfoile sold 12,075 shares of the business’s stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $33.45, for a total transaction of $403,908.75. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Shares of The Interpublic Group of Companies stock opened at $33.56 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $13.20 billion, a PE ratio of 30.51, a PEG ratio of 1.75 and a beta of 1.05. The Interpublic Group of Companies, Inc. has a 52-week low of $15.92 and a 52-week high of $34.41. The business has a 50-day moving average price of $31.82.

The Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, April 28th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.29. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.95 billion. The Interpublic Group of Companies had a net margin of 4.89% and a return on equity of 29.27%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. On average, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 21st. Stockholders of record on Monday, June 7th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 4th. This represents a $1.08 annualized dividend and a dividend yield of 3.22%. The Interpublic Group of Companies’s payout ratio is 62.43%.

About The Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data management services.

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Institutional Ownership by Quarter for The Interpublic Group of Companies (NYSE:IPG)

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