Arrowstreet Capital Limited Partnership Sells 30,192 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Arrowstreet Capital Limited Partnership reduced its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,090,937 shares of the business services provider’s stock after selling 30,192 shares during the period. Arrowstreet Capital Limited Partnership owned 0.57% of Interpublic Group of Companies worth $51,186,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Interpublic Group of Companies by 1.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,998,667 shares of the business services provider’s stock valued at $342,687,000 after buying an additional 217,212 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Interpublic Group of Companies by 5.1% during the first quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider’s stock worth $377,127,000 after acquiring an additional 674,938 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Interpublic Group of Companies by 49.0% during the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock worth $231,138,000 after acquiring an additional 2,797,490 shares during the period. Deutsche Bank AG grew its position 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 purchasing an additional 1,206,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Interpublic Group of Companies by 4.2% in 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 valued at $132,191,000 after purchasing an additional 196,906 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the subject of several recent research reports. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Interpublic Group of Companies in a report on Monday, November 24th. Barclays reduced their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating for the company 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 given a Hold rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus target price of $32.18.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $24.63 on Friday. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 20.87 and a beta of 1.12. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day moving average price of $25.87 and a 200-day moving average price of $25.38.

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.