State of Michigan Retirement System Sells 4,364 Shares of Interpublic Group of Companies, Inc. (The) $IPG

State of Michigan Retirement System lessened its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 4.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,528 shares of the business services provider’s stock after selling 4,364 shares during the period. State of Michigan Retirement System’s holdings in Interpublic Group of Companies were worth $2,461,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in shares of Interpublic Group of Companies during the first quarter valued at approximately $1,480,000. Shell Asset Management Co. lifted its holdings in shares of Interpublic Group of Companies by 42.1% in the 2nd quarter. Shell Asset Management Co. now owns 63,315 shares of the business services provider’s stock worth $1,550,000 after purchasing an additional 18,759 shares in the last quarter. Sound Income Strategies LLC grew its position in Interpublic Group of Companies by 5.6% in the 2nd quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider’s stock valued at $11,196,000 after purchasing an additional 24,258 shares during the period. Goldman Sachs Group Inc. increased its stake in Interpublic Group of Companies by 49.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock valued at $231,138,000 after purchasing an additional 2,797,490 shares in the last quarter. Finally, Swedbank AB increased its stake in Interpublic Group of Companies by 10.6% during the 1st quarter. Swedbank AB now owns 680,466 shares of the business services provider’s stock valued at $18,481,000 after purchasing an additional 64,983 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IPG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 8th. Barclays upped their target price on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Zacks Research downgraded Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, UBS Group dropped their target price on 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. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $32.27.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $25.18 on Thursday. The business’s fifty day simple moving average is $26.47 and its 200 day simple moving average is $25.38. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The firm has a market capitalization of $9.22 billion, a P/E ratio of 21.34 and a beta of 1.12.

About Interpublic Group of Companies

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.