Empowered Funds LLC Sells 23,315 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Empowered Funds LLC reduced its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 301,390 shares of the business services provider’s stock after selling 23,315 shares during the quarter. Empowered Funds LLC’s holdings in Interpublic Group of Companies were worth $8,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its position in Interpublic Group of Companies by 9.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock worth $131,000 after acquiring an additional 365 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Interpublic Group of Companies by 2.9% in the third quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock worth $445,000 after purchasing an additional 399 shares during the period. Empirical Finance LLC lifted its position in shares of Interpublic Group of Companies by 1.3% during the 3rd quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 409 shares during the last quarter. West Oak Capital LLC boosted its stake in Interpublic Group of Companies by 0.8% during the 4th quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock valued at $1,558,000 after purchasing an additional 435 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Interpublic Group of Companies by 0.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 122,533 shares of the business services provider’s stock valued at $3,876,000 after buying an additional 457 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Macquarie reiterated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $32.00 to $39.00 in a report on Monday, January 27th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $32.00 to $36.00 in a report on Friday, January 24th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. Finally, BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.75.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $27.48 on Monday. The Interpublic Group of Companies, Inc. has a twelve month low of $26.30 and a twelve month high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market cap of $10.24 billion, a P/E ratio of 12.96 and a beta of 1.11. The company’s 50-day simple moving average is $28.56 and its 200 day simple moving average is $29.96.

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.