State of Michigan Retirement System Sells 1,800 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

State of Michigan Retirement System trimmed its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,992 shares of the business services provider’s stock after selling 1,800 shares during the period. State of Michigan Retirement System’s holdings in Interpublic Group of Companies were worth $2,942,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in Interpublic Group of Companies in the third quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth about $32,000. Allworth Financial LP boosted its stake in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth about $60,000. Finally, Transamerica Financial Advisors Inc. boosted its position in Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after purchasing an additional 2,437 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Price Performance

Shares of IPG stock opened at $28.20 on Friday. The stock has a 50 day moving average of $27.74 and a two-hundred day moving average of $29.49. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12 month low of $26.15 and a 12 month high of $35.17. The company has a market capitalization of $10.51 billion, a P/E ratio of 15.41 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. As a group, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $155.00 million in shares. This buyback authorization allows the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is 72.13%.

Insiders Place Their Bets

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now owns 143,373 shares in the company, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IPG shares. BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, January 10th. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, StockNews.com assumed coverage on Interpublic Group of Companies in a research note on Saturday, March 1st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.50.

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.