Beutel Goodman & Co Ltd. Reduces Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Beutel Goodman & Co Ltd. trimmed its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 2.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,593,612 shares of the business services provider’s stock after selling 254,833 shares during the period. Beutel Goodman & Co Ltd. owned 2.35% of Interpublic Group of Companies worth $210,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in IPG. LPL Financial LLC grew its holdings in shares of Interpublic Group of Companies by 7.5% in the first quarter. LPL Financial LLC now owns 500,207 shares of the business services provider’s stock valued at $13,586,000 after purchasing an additional 34,753 shares during the period. Federated Hermes Inc. lifted its stake in shares of Interpublic Group of Companies by 13.4% in the 1st quarter. Federated Hermes Inc. now owns 36,944 shares of the business services provider’s stock valued at $1,003,000 after purchasing an additional 4,371 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Interpublic Group of Companies during the 1st quarter worth $1,273,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of Interpublic Group of Companies during the 1st quarter worth about $1,317,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Interpublic Group of Companies by 6.5% in the 1st 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 during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 1.7%

IPG opened at $24.63 on Friday. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The business has a 50 day moving average price of $25.87 and a two-hundred day moving average price of $25.38. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The company has a market cap of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IPG. Barclays dropped their price target 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Interpublic Group of Companies in a research report on Monday, November 24th. Zacks Research downgraded Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.