First Citizens Bank & Trust Co. Trims Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

First Citizens Bank & Trust Co. reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,408 shares of the business services provider’s stock after selling 1,225 shares during the period. First Citizens Bank & Trust Co.’s holdings in Interpublic Group of Companies were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IPG. Public Sector Pension Investment Board boosted its position in shares of Interpublic Group of Companies by 65.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,471 shares of the business services provider’s stock worth $421,000 after purchasing an additional 5,724 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Interpublic Group of Companies by 45.9% in the second quarter. AQR Capital Management LLC now owns 209,173 shares of the business services provider’s stock worth $6,085,000 after acquiring an additional 65,759 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Interpublic Group of Companies by 227.7% during the second quarter. APG Asset Management N.V. now owns 46,053 shares of the business services provider’s stock valued at $1,250,000 after acquiring an additional 32,000 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Interpublic Group of Companies in the 2nd quarter worth about $831,000. Finally, Millennium Management LLC boosted its stake in Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after purchasing an additional 1,248,062 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

IPG has been the subject of a number of analyst reports. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $32.00 to $39.00 in a report on Monday. Wells Fargo & Company upgraded 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. StockNews.com started coverage on Interpublic Group of Companies in a research note on Tuesday. They issued a “hold” rating for the company. Finally, Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $36.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price of $33.75.

Interpublic Group of Companies Stock Up 2.6 %

IPG stock opened at $29.29 on Tuesday. The business’s 50-day moving average is $28.76 and its two-hundred day moving average is $30.05. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 13.81 and a beta of 1.11. 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 company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies 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.