Richardson Financial Services Inc. Cuts Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Richardson Financial Services Inc. trimmed its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,485 shares of the business services provider’s stock after selling 460 shares during the period. Richardson Financial Services Inc.’s holdings in Interpublic Group of Companies were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of IPG. Sanctuary Advisors LLC bought a new position in shares of Interpublic Group of Companies during the 2nd quarter valued at approximately $1,462,000. AMF Tjanstepension AB increased its position in Interpublic Group of Companies by 70.3% during the third quarter. AMF Tjanstepension AB now owns 253,172 shares of the business services provider’s stock valued at $8,008,000 after acquiring an additional 104,514 shares during the last quarter. Czech National Bank raised its stake in shares of Interpublic Group of Companies by 6.4% in the third quarter. Czech National Bank now owns 76,511 shares of the business services provider’s stock valued at $2,420,000 after acquiring an additional 4,589 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Interpublic Group of Companies by 19.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 93,200 shares of the business services provider’s stock worth $2,948,000 after acquiring an additional 15,500 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Interpublic Group of Companies by 31.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,713 shares of the business services provider’s stock worth $117,000 after purchasing an additional 886 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Down 0.1 %

NYSE IPG opened at $28.68 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day simple moving average is $28.80 and its two-hundred day simple moving average is $30.02. The Interpublic Group of Companies, Inc. has a one year low of $26.30 and a one year high of $35.17. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 13.53 and a beta of 1.11.

Wall Street Analyst Weigh In

IPG has been the subject of several analyst reports. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. StockNews.com assumed coverage on Interpublic Group of Companies in a research report on Tuesday, January 28th. They set a “hold” rating for the company. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.75.

Interpublic Group of Companies Profile

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.