Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 22.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,209 shares of the business services provider’s stock after selling 24,559 shares during the period. Voya Investment Management LLC’s holdings in Interpublic Group of Companies were worth $2,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IPG. Northwestern Mutual Wealth Management Co. raised its stake in Interpublic Group of Companies by 6.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 35,494 shares of the business services provider’s stock valued at $964,000 after purchasing an additional 2,025 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Interpublic Group of Companies by 14.2% during the first quarter. Vident Advisory LLC now owns 87,591 shares of the business services provider’s stock worth $2,379,000 after buying an additional 10,918 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Interpublic Group of Companies by 11.9% during the first quarter. Baird Financial Group Inc. now owns 92,412 shares of the business services provider’s stock worth $2,510,000 after buying an additional 9,848 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of Interpublic Group of Companies by 1,217.9% in the first quarter. Nomura Holdings Inc. now owns 161,756 shares of the business services provider’s stock valued at $4,393,000 after buying an additional 149,482 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Interpublic Group of Companies by 393.1% during the first quarter. Quarry LP now owns 319,762 shares of the business services provider’s stock valued at $8,685,000 after buying an additional 254,917 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 1.7%

Shares of IPG opened at $24.63 on Friday. 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’s fifty day moving average is $25.21 and its two-hundred day moving average is $25.48. The firm has a market cap of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

Several analysts have commented on IPG shares. Zacks Research cut shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Barclays decreased 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. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Interpublic Group of Companies in a research report on Monday, November 24th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.82.

Interpublic Group of Companies Company Profile

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.