Prosperity Consulting Group LLC Sells 6,159 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Prosperity Consulting Group LLC lessened its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 31.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,472 shares of the business services provider’s stock after selling 6,159 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Interpublic Group of Companies were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Teacher Retirement System of Texas bought a new stake in Interpublic Group of Companies during the 1st quarter worth about $1,480,000. Penserra Capital Management LLC raised its holdings in Interpublic Group of Companies by 3.8% during the first quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider’s stock worth $410,000 after acquiring an additional 552 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Interpublic Group of Companies by 28.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 184,687 shares of the business services provider’s stock worth $4,790,000 after acquiring an additional 41,206 shares in the last quarter. Cerity Partners LLC raised its holdings in Interpublic Group of Companies by 0.4% during the first quarter. Cerity Partners LLC now owns 284,115 shares of the business services provider’s stock worth $7,717,000 after acquiring an additional 1,265 shares in the last quarter. Finally, MJP Associates Inc. ADV raised its stake in shares of Interpublic Group of Companies by 20.5% during the 1st quarter. MJP Associates Inc. ADV now owns 15,651 shares of the business services provider’s stock worth $425,000 after purchasing an additional 2,661 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. UBS Group dropped their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a report on Wednesday, July 23rd. Zacks Research cut shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. 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, the company presently has an average rating of “Hold” and an average price target of $32.27.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $25.18 on Thursday. The firm has a market capitalization of $9.22 billion, a PE ratio of 21.34 and a beta of 1.12. The company’s 50-day moving average is $26.47 and its 200-day moving average is $25.38. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week 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.

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.