Trading Report: The Kentucky Retirement Systems Takes Position in Interpublic Group of Cos. (IPG)

The Kentucky Retirement Systems Takes Position in Interpublic Group of Cos. (IPG)

Kentucky Retirement Systems purchased a new position in shares of Interpublic Group of Cos. (NYSE:IPG) during the second quarter, Holdings Channel reports. The institutional investor purchased 34,220 shares of the company’s stock, valued at approximately $790,000.

Several other large investors have also added to or reduced their stakes in IPG. Washington Trust Bank boosted its position in shares of Interpublic Group of Cos. by 495.3% in the second quarter. Washington Trust Bank now owns 4,465 shares of the company’s stock worth $103,000 after buying an additional 3,715 shares during the period. Signaturefd LLC boosted its position in shares of Interpublic Group of Cos. by 1.1% in the second quarter. Signaturefd LLC now owns 4,490 shares of the company’s stock worth $104,000 after buying an additional 50 shares during the period. Quadrant Capital Group LLC boosted its position in shares of 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 worth $113,000 after buying an additional 133 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position in shares of 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 worth $121,000 after buying an additional 2,608 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in shares of Interpublic Group of Cos. by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 5,479 shares of the company’s stock worth $127,000 after buying an additional 225 shares during the period. Institutional investors own 95.89% of the company’s stock.

Interpublic Group of Cos. (NYSE:IPG) traded up 0.90% during trading on Friday, reaching $24.59. 1,275,914 shares of the company traded hands. Interpublic Group of Cos. has a 12-month low of $19.79 and a 12-month high of $24.82. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 18.39 and a beta of 1.59. The firm’s 50 day moving average price is $22.71 and its 200 day moving average price is $23.09.

Interpublic Group of Cos. (NYSE:IPG) last posted its earnings results on Friday, October 21st. The company reported $0.31 earnings per share (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 had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Interpublic Group of Cos. will post $1.32 earnings per share for the current year.

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

IPG has been the topic of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on shares of Interpublic Group of Cos. in a research note on Friday, October 7th. They issued a “top pick” rating and a $27.00 price objective on the stock. 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. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Interpublic Group of Cos. in a research note on Friday, October 21st. RBC Capital Markets initiated coverage on shares of Interpublic Group of Cos. in a research note on Thursday, October 6th. They issued a “top pick” rating and a $27.00 price objective on the stock. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Interpublic Group of Cos. in a research note on Monday, August 22nd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.50.

In other Interpublic Group of Cos. news, SVP Ellen Tobi Johnson sold 35,765 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $22.69, for a total value of $811,507.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.75% of the stock is currently owned by company insiders.

Interpublic Group of Cos. Company Profile

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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