Exchange Traded Concepts LLC Grows Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Exchange Traded Concepts LLC lifted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGFree Report) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,242 shares of the business services provider’s stock after acquiring an additional 3,702 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Interpublic Group of Companies were worth $1,352,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after buying an additional 3,920,975 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Interpublic Group of Companies by 240.9% in the third quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after acquiring an additional 20,395 shares during the period. International Assets Investment Management LLC increased its position in Interpublic Group of Companies by 2,679.9% during the 3rd quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock valued at $965,000 after purchasing an additional 29,425 shares during the period. ING Groep NV purchased a new position in Interpublic Group of Companies during the 3rd quarter valued at about $1,589,000. Finally, Bridgewater Associates LP raised its holdings in shares of Interpublic Group of Companies by 956.5% in the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock valued at $3,313,000 after purchasing an additional 94,821 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $29.29 on Tuesday. The firm has a market capitalization of $10.91 billion, a P/E ratio of 13.81 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 52 week low of $26.30 and a 52 week high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $28.76 and a 200 day moving average price of $30.05.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IPG shares. StockNews.com started coverage on shares of Interpublic Group of Companies in a report on Tuesday. They set a “hold” rating on the stock. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $36.00 in a report on Friday. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $39.00 in a research note on Monday. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $33.75.

Check Out Our Latest Research Report on IPG

About Interpublic Group of Companies

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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