Board of the Pension Protection Fund Takes $670,000 Position in Interpublic Group of Companies, Inc. (The) $IPG

Board of the Pension Protection Fund acquired a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,000 shares of the business services provider’s stock, valued at approximately $670,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its stake in shares of Interpublic Group of Companies by 6.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 14,819,997 shares of the business services provider’s stock valued at $362,794,000 after purchasing an additional 934,613 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Interpublic Group of Companies by 1.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 13,998,667 shares of the business services provider’s stock worth $342,687,000 after buying an additional 217,212 shares in the last quarter. Invesco Ltd. raised its position in Interpublic Group of Companies by 3.5% in the 2nd quarter. Invesco Ltd. now owns 10,610,766 shares of the business services provider’s stock valued at $259,752,000 after buying an additional 360,987 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Interpublic Group of Companies by 49.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock valued at $231,138,000 after acquiring an additional 2,797,490 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Interpublic Group of Companies during the 2nd quarter worth approximately $143,727,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $24.63 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $25.40 and its 200 day simple moving average is $25.41. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 20.87 and a beta of 1.12.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IPG. Zacks Research downgraded shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research note on Monday, November 24th. Finally, Barclays cut their price target 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. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.82.

Interpublic Group of Companies Profile

Interpublic Group of Companies (NYSE: IPG) is a leading global provider of marketing solutions and communications services. Through its portfolio of agencies and specialized networks, IPG delivers a broad spectrum of services, including advertising, digital marketing, media planning and buying, public relations, branding, and data analytics. Its creative agencies develop integrated campaigns that span television, print, social media, mobile, experiential and other emerging channels, while its media networks leverage proprietary tools and strategic partnerships to optimize audience targeting and performance.

Since its formation in 1961 as one of the first marketing services holding companies, Interpublic has expanded through strategic acquisitions and organic growth to become one of the so-called “Big Four” advertising conglomerates.