State of Tennessee Treasury Department reduced its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 10.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,390 shares of the business services provider’s stock after selling 15,695 shares during the period. State of Tennessee Treasury Department’s holdings in Interpublic Group of Companies were worth $2,719,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. ProVise Management Group LLC acquired a new position in Interpublic Group of Companies in the 1st quarter valued at about $260,000. Dynamic Technology Lab Private Ltd raised its stake in Interpublic Group of Companies by 21.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 67,308 shares of the business services provider’s stock valued at $1,414,000 after purchasing an additional 11,953 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new position in Interpublic Group of Companies in the 1st quarter valued at about $319,000. State of Wisconsin Investment Board raised its stake in Interpublic Group of Companies by 58.2% in the 1st quarter. State of Wisconsin Investment Board now owns 951,434 shares of the business services provider’s stock valued at $19,990,000 after purchasing an additional 350,133 shares during the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new position in Interpublic Group of Companies in the 1st quarter valued at about $1,695,000. Institutional investors own 99.32% of the company’s stock.
Shares of IPG stock opened at $22.07 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $8.54 billion, a P/E ratio of 11.55, a PEG ratio of 3.63 and a beta of 1.06. Interpublic Group of Companies Inc has a twelve month low of $19.61 and a twelve month high of $25.10.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 4.26%. The ex-dividend date is Friday, May 31st. Interpublic Group of Companies’s dividend payout ratio (DPR) is 50.54%.
Separately, ValuEngine raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Interpublic Group of Companies currently has an average rating of “Buy” and an average price target of $25.38.
In other Interpublic Group of Companies news, Director David M. Thomas purchased 8,650 shares of the stock in a transaction on Tuesday, April 30th. The stock was bought at an average price of $23.12 per share, for a total transaction of $199,988.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.09% of the stock is owned by insiders.
WARNING: This report was reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.com-unik.info/2019/06/16/interpublic-group-of-companies-inc-nyseipg-shares-sold-by-state-of-tennessee-treasury-department.html.
Interpublic Group of Companies Profile
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies Inc (NYSE:IPG).
Receive News & Ratings for Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.