RWC Asset Management LLP Purchases 31,191 Shares of Interpublic Group of Companies, Inc. (The) $IPG

RWC Asset Management LLP boosted its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 30.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 133,069 shares of the business services provider’s stock after buying an additional 31,191 shares during the period. RWC Asset Management LLP’s holdings in Interpublic Group of Companies were worth $3,714,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in shares of Interpublic Group of Companies in the 2nd quarter worth approximately $25,000. First Horizon Corp bought a new position in Interpublic Group of Companies in the 3rd quarter valued at $33,000. Parkside Financial Bank & Trust boosted its stake in Interpublic Group of Companies by 72.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock worth $34,000 after purchasing an additional 585 shares in the last quarter. Cromwell Holdings LLC increased its stake in shares of Interpublic Group of Companies by 122.2% in the third quarter. Cromwell Holdings LLC now owns 1,291 shares of the business services provider’s stock valued at $36,000 after buying an additional 710 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Interpublic Group of Companies by 22.9% in the second quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock worth $64,000 after acquiring an additional 485 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

IPG opened at $24.63 on Tuesday. 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 market capitalization of $8.95 billion, a price-to-earnings ratio of 20.87 and a beta of 1.12. The business’s 50-day moving average price is $24.80 and its two-hundred day moving average price is $25.56. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IPG. Weiss Ratings reissued a “hold (c-)” rating on shares of Interpublic Group of Companies in a research note on Monday, November 24th. Zacks Research lowered shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Barclays lowered their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.28.

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.