Today, Arizona State Retirement System Maintains Position in Interpublic Group of Cos. (IPG)

Today, Arizona State Retirement System Maintains Position in Interpublic Group of Cos. (IPG)

Arizona State Retirement System continued to hold its stake in Interpublic Group of Cos. (NYSE:IPG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,715 shares of the company’s stock at the end of the third quarter. Arizona State Retirement System’s holdings in Interpublic Group of Cos. were worth $2,206,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IPG. Washington Trust Bank raised its stake in Interpublic Group of Cos. by 495.3% in the second quarter. Washington Trust Bank now owns 4,465 shares of the company’s stock valued at $103,000 after buying an additional 3,715 shares during the last quarter. Signaturefd LLC raised its stake in Interpublic Group of Cos. by 1.1% in the second quarter. Signaturefd LLC now owns 4,490 shares of the company’s stock valued at $104,000 after buying an additional 50 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Interpublic Group of Cos. by 2.8% in the second quarter. Quadrant Capital Group LLC now owns 4,961 shares of the company’s stock valued at $113,000 after buying an additional 133 shares during the last quarter. Cornerstone Advisors Inc. raised its stake in Interpublic Group of Cos. by 5,388.3% in the third quarter. Cornerstone Advisors Inc. now owns 5,159 shares of the company’s stock valued at $115,000 after buying an additional 5,065 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in Interpublic Group of Cos. by 99.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,239 shares of the company’s stock valued at $121,000 after buying an additional 2,608 shares during the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Cos. (NYSE:IPG) traded down 0.16% on Monday, hitting $24.55. 2,595,665 shares of the stock traded hands. Interpublic Group of Cos. has a 52 week low of $19.79 and a 52 week high of $24.82. The firm’s 50 day moving average is $22.77 and its 200 day moving average is $23.08. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 18.36 and a beta of 1.59.

Interpublic Group of Cos. (NYSE:IPG) last announced its earnings results on Friday, October 21st. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Interpublic Group of Cos. had a net margin of 7.09% and a return on equity of 26.70%. The business earned $1.92 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Interpublic Group of Cos. will post $1.32 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, November 29th. Interpublic Group of Cos.’s payout ratio is 44.78%.

IPG has been the subject of several analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of Interpublic Group of Cos. in a research note on Monday, August 22nd. Pivotal Research lifted their price objective on shares of Interpublic Group of Cos. from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 17th. Albert Fried & Company reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Interpublic Group of Cos. in a research note on Thursday, October 27th. Credit Suisse Group AG started coverage on shares of Interpublic Group of Cos. in a report on Thursday, September 15th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $28.00 target price on shares of Interpublic Group of Cos. in a report on Friday, October 21st. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.50.

In related news, SVP Ellen Tobi Johnson sold 35,765 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $22.69, for a total transaction of $811,507.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.75% of the company’s stock.

About Interpublic Group of Cos.

The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

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