Brokerages Set Interpublic Group of Companies, Inc. (The) (NYSE:IPG) PT at $31.82

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) has earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $31.82.

A number of equities analysts have weighed in on IPG shares. Zacks Research downgraded shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Interpublic Group of Companies in a research report on Monday, November 24th. Finally, Barclays cut their price objective on Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th.

Institutional Trading of Interpublic Group of Companies

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Interpublic Group of Companies by 2,197.6% in the third quarter. Wellington Management Group LLP now owns 13,949,010 shares of the business services provider’s stock worth $389,317,000 after buying an additional 13,341,886 shares during the period. Qube Research & Technologies Ltd purchased a new position in Interpublic Group of Companies in the 2nd quarter worth approximately $143,727,000. JPMorgan Chase & Co. grew its position in Interpublic Group of Companies by 139.6% in the third quarter. JPMorgan Chase & Co. now owns 8,175,766 shares of the business services provider’s stock valued at $228,188,000 after acquiring an additional 4,762,895 shares in the last quarter. State Street Corp grew its position in Interpublic Group of Companies by 14.1% in the third quarter. State Street Corp now owns 32,109,386 shares of the business services provider’s stock valued at $896,173,000 after acquiring an additional 3,972,431 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Interpublic Group of Companies by 14,575.4% during the second quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider’s stock worth $76,359,000 after purchasing an additional 3,097,994 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Down 1.7%

NYSE IPG opened at $24.63 on Wednesday. The company has a market cap of $8.95 billion, a P/E ratio of 20.87 and a beta of 1.12. Interpublic Group of Companies has a 12 month low of $22.51 and a 12 month high of $33.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average of $25.40 and a 200-day moving average of $25.41.

About Interpublic Group of Companies

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.