Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 21,645 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,558 shares of the business services provider’s stock after acquiring an additional 21,645 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Interpublic Group of Companies were worth $6,404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gradient Investments LLC raised its stake in Interpublic Group of Companies by 12.2% in the fourth quarter. Gradient Investments LLC now owns 486,902 shares of the business services provider’s stock valued at $13,643,000 after purchasing an additional 52,931 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Interpublic Group of Companies by 8.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 48,242 shares of the business services provider’s stock worth $1,352,000 after buying an additional 3,702 shares during the last quarter. Impact Partnership Wealth LLC increased its holdings in shares of Interpublic Group of Companies by 14.1% in the 4th quarter. Impact Partnership Wealth LLC now owns 14,157 shares of the business services provider’s stock worth $397,000 after buying an additional 1,748 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Interpublic Group of Companies by 28.8% during the 4th quarter. Sound Income Strategies LLC now owns 424,049 shares of the business services provider’s stock valued at $11,882,000 after buying an additional 94,777 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Interpublic Group of Companies by 4.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,030,630 shares of the business services provider’s stock worth $28,878,000 after acquiring an additional 45,894 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of a number of research analyst reports. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Macquarie restated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Friday, January 10th. Finally, StockNews.com began coverage on shares of Interpublic Group of Companies in a report on Monday, January 20th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $28.55 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $35.17. The firm has a market cap of $10.63 billion, a PE ratio of 13.47 and a beta of 1.11. The business has a 50 day moving average price of $28.76 and a 200-day moving average price of $30.04.

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.