Allianz Asset Management GmbH Lowers Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Allianz Asset Management GmbH reduced its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 49.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,670 shares of the business services provider’s stock after selling 8,591 shares during the quarter. Allianz Asset Management GmbH’s holdings in Interpublic Group of Companies were worth $212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of Interpublic Group of Companies by 5.1% in the first quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider’s stock valued at $377,127,000 after buying an additional 674,938 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Interpublic Group of Companies by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider’s stock valued at $374,304,000 after buying an additional 842,925 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Interpublic Group of Companies by 49.0% in the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock valued at $231,138,000 after buying an additional 2,797,490 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Interpublic Group of Companies by 32.0% in the first quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider’s stock valued at $135,051,000 after buying an additional 1,206,542 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Interpublic Group of Companies by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,867,134 shares of the business services provider’s stock worth $132,191,000 after purchasing an additional 196,906 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Down 2.9%

NYSE:IPG opened at $26.33 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The business’s 50-day simple moving average is $26.64 and its 200 day simple moving average is $25.33. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 22.32 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IPG. UBS Group reduced their price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Zacks Research downgraded Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. lowered their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interpublic Group of Companies in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.27.

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.