Invesco Ltd. Buys 360,987 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Invesco Ltd. raised its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,610,766 shares of the business services provider’s stock after acquiring an additional 360,987 shares during the quarter. Invesco Ltd. owned approximately 2.90% of Interpublic Group of Companies worth $259,752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its stake in shares of Interpublic Group of Companies by 72.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 585 shares during the period. Brooklyn Investment Group raised its holdings in Interpublic Group of Companies by 20.0% in the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock worth $64,000 after purchasing an additional 391 shares in the last quarter. Private Trust Co. NA raised its holdings in 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 purchasing an additional 485 shares in the last quarter. Employees Retirement System of Texas purchased a new position in Interpublic Group of Companies during the second quarter valued at $75,000. Finally, Assetmark Inc. boosted its holdings in shares of Interpublic Group of Companies by 54.1% during the 2nd quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock valued at $75,000 after buying an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IPG. Barclays decreased their price target 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. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Interpublic Group of Companies in a report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $24.63 on Friday. 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 company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The company’s 50-day moving average is $25.84 and its 200 day moving average is $25.37.

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.