Hsbc Holdings PLC Sells 156,345 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Hsbc Holdings PLC lowered its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 14.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 891,455 shares of the business services provider’s stock after selling 156,345 shares during the quarter. Hsbc Holdings PLC owned about 0.24% of Interpublic Group of Companies worth $21,814,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd lifted its stake in shares of Interpublic Group of Companies by 651.1% in the second quarter. XTX Topco Ltd now owns 170,922 shares of the business services provider’s stock valued at $4,184,000 after buying an additional 148,167 shares during the period. Empowered Funds LLC raised its holdings in Interpublic Group of Companies by 177.0% in the 2nd quarter. Empowered Funds LLC now owns 143,042 shares of the business services provider’s stock valued at $3,502,000 after acquiring an additional 91,403 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of Interpublic Group of Companies by 42.1% in the 2nd quarter. Shell Asset Management Co. now owns 63,315 shares of the business services provider’s stock worth $1,550,000 after acquiring an additional 18,759 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Interpublic Group of Companies by 5.6% during the 2nd quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider’s stock worth $11,196,000 after purchasing an additional 24,258 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Interpublic Group of Companies during the 2nd quarter worth approximately $529,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Down 1.7%

Shares of NYSE:IPG opened at $24.63 on Wednesday. The company’s fifty day moving average is $25.93 and its 200-day moving average is $25.39. 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 52 week low of $22.51 and a 52 week high of $33.05. The company has a market capitalization of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IPG shares. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research note on Monday, November 24th. Barclays decreased their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Finally, Zacks Research lowered shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.18.

Interpublic Group of Companies Company 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.