Y Intercept Hong Kong Ltd Takes Position in Interpublic Group of Companies, Inc. (The) $IPG

Y Intercept Hong Kong Ltd acquired a new position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,591 shares of the business services provider’s stock, valued at approximately $529,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in Interpublic Group of Companies in the 1st quarter worth approximately $1,480,000. Sound Income Strategies LLC boosted its holdings in Interpublic Group of Companies by 5.6% in the 2nd quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider’s stock worth $11,196,000 after buying an additional 24,258 shares during the period. Shell Asset Management Co. lifted its position in shares of Interpublic Group of Companies by 42.1% in the second quarter. Shell Asset Management Co. now owns 63,315 shares of the business services provider’s stock valued at $1,550,000 after acquiring an additional 18,759 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Interpublic Group of Companies by 49.0% in the first 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, Swedbank AB grew its position in shares of Interpublic Group of Companies by 10.6% during the first quarter. Swedbank AB now owns 680,466 shares of the business services provider’s stock worth $18,481,000 after purchasing an additional 64,983 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IPG has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Zacks Research lowered Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. lowered their target price on Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of Interpublic Group of Companies in a research report on Wednesday, October 8th. Finally, UBS Group lowered their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus target price of $32.27.

Interpublic Group of Companies Stock Down 0.7%

Shares of NYSE IPG opened at $25.03 on Friday. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The stock’s fifty day simple moving average is $26.44 and its two-hundred day simple moving average is $25.38. The stock has a market capitalization of $9.17 billion, a PE ratio of 21.21 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78.

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.