Retirement Systems of Alabama Reduces Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Retirement Systems of Alabama trimmed its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,654 shares of the business services provider’s stock after selling 1,132 shares during the quarter. Retirement Systems of Alabama’s holdings in Interpublic Group of Companies were worth $2,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IPG. AMF Tjanstepension AB increased its position in shares of Interpublic Group of Companies by 70.3% in 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 period. Ritholtz Wealth Management raised its stake in shares of Interpublic Group of Companies by 7.0% during the third quarter. Ritholtz Wealth Management now owns 21,557 shares of the business services provider’s stock valued at $682,000 after acquiring an additional 1,416 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Interpublic Group of Companies by 38.5% during the third quarter. Exchange Traded Concepts LLC now owns 44,540 shares of the business services provider’s stock valued at $1,409,000 after acquiring an additional 12,386 shares during the last quarter. Swedbank AB raised its stake in shares of Interpublic Group of Companies by 2.1% during the third quarter. Swedbank AB now owns 613,367 shares of the business services provider’s stock valued at $19,401,000 after acquiring an additional 12,431 shares during the last quarter. Finally, Proquility Private Wealth Partners LLC raised its stake in shares of Interpublic Group of Companies by 7.6% during the third quarter. Proquility Private Wealth Partners LLC now owns 58,097 shares of the business services provider’s stock valued at $1,838,000 after acquiring an additional 4,121 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IPG shares. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. 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 research note on Friday, January 10th. Macquarie reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.75.

Interpublic Group of Companies Price Performance

IPG stock opened at $27.14 on Wednesday. The Interpublic Group of Companies, Inc. has a 1 year low of $26.30 and a 1 year high of $35.17. The firm has a 50-day moving average of $28.50 and a 200 day moving average of $29.94. The company has a market cap of $10.11 billion, a P/E ratio of 12.80 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

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.