New York State Common Retirement Fund reduced its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 977,757 shares of the business services provider’s stock after selling 107,918 shares during the quarter. New York State Common Retirement Fund owned 0.25% of Interpublic Group of Companies, Inc. (The) worth $24,053,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 1.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,203,171 shares of the business services provider’s stock valued at $29,598,000 after buying an additional 17,172 shares during the period. Bancorpsouth Inc. raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 34.4% during the 1st quarter. Bancorpsouth Inc. now owns 13,704 shares of the business services provider’s stock valued at $337,000 after buying an additional 3,508 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 15.2% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,878,350 shares of the business services provider’s stock valued at $46,206,000 after buying an additional 247,275 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 4.0% during the 2nd quarter. Victory Capital Management Inc. now owns 6,641,216 shares of the business services provider’s stock valued at $163,374,000 after buying an additional 253,446 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Interpublic Group of Companies, Inc. (The) by 1.7% during the 2nd quarter. Swiss National Bank now owns 1,430,790 shares of the business services provider’s stock valued at $35,197,000 after buying an additional 24,000 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

IPG has been the topic of several analyst reports. Macquarie downgraded Interpublic Group of Companies, Inc. (The) from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $28.00 to $24.00 in a report on Tuesday, June 6th. Jefferies Group LLC reiterated a “buy” rating and set a $26.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a report on Thursday, July 27th. BidaskClub downgraded Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $24.00 target price (down from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a report on Wednesday, July 26th. Finally, Argus dropped their target price on Interpublic Group of Companies, Inc. (The) from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Interpublic Group of Companies, Inc. (The) currently has an average rating of “Hold” and an average target price of $26.00.

In related news, SVP Ellen Tobi Johnson sold 20,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.49% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “New York State Common Retirement Fund Has $24.05 Million Position in Interpublic Group of Companies, Inc. (The) (IPG)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/09/28/new-york-state-common-retirement-fund-has-24-05-million-position-in-interpublic-group-of-companies-inc-the-ipg.html.

Shares of Interpublic Group of Companies, Inc. (NYSE:IPG) opened at 21.26 on Thursday. Interpublic Group of Companies, Inc. has a 52 week low of $19.57 and a 52 week high of $25.71. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 15.31 and a beta of 1.53. The firm’s 50-day moving average price is $20.57 and its 200-day moving average price is $23.40.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last posted its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.07). Interpublic Group of Companies, Inc. (The) had a return on equity of 27.72% and a net margin of 7.19%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the firm posted $0.33 EPS. Interpublic Group of Companies, Inc. (The)’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts expect that Interpublic Group of Companies, Inc. will post $1.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 3.39%. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio is presently 51.80%.

About Interpublic Group of Companies, Inc. (The)

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, Inc. (The) (NYSE:IPG)

Receive News & Stock Ratings for Interpublic Group of Companies Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies Inc. (The) and related stocks with our FREE daily email newsletter.