Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 42.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,468,496 shares of the business services provider’s stock after selling 1,105,439 shares during the quarter. Pacer Advisors Inc.’s holdings in Interpublic Group of Companies were worth $40,986,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IPG. CYBER HORNET ETFs LLC purchased a new position in Interpublic Group of Companies during the second quarter worth approximately $25,000. Parkside Financial Bank & Trust grew its holdings in shares of Interpublic Group of Companies by 72.0% in the second 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. Private Trust Co. NA grew its holdings in shares of 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 valued at $64,000 after purchasing an additional 485 shares during the period. Assetmark Inc. increased its position in Interpublic Group of Companies by 54.1% during the second quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock worth $75,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in Interpublic Group of Companies during the second quarter worth about $75,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays dropped 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research report on Monday, November 24th. Finally, Zacks Research downgraded Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.82.

Interpublic Group of Companies Trading Down 1.7%

Shares of NYSE IPG opened at $24.63 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The stock has a fifty day simple moving average of $25.21 and a 200-day simple moving average of $25.46.

About Interpublic Group of Companies

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.