Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,853 shares of the business services provider’s stock after buying an additional 6,616 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Interpublic Group of Companies were worth $2,350,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares during the period. Integrated Wealth Concepts LLC increased its stake in Interpublic Group of Companies by 240.9% during the third quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after acquiring an additional 20,395 shares during the last quarter. International Assets Investment Management LLC raised its position in Interpublic Group of Companies by 2,679.9% in the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock valued at $965,000 after purchasing an additional 29,425 shares during the period. ING Groep NV acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at $1,589,000. Finally, Bridgewater Associates LP grew its holdings in shares of Interpublic Group of Companies by 956.5% during the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after purchasing an additional 94,821 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $27.17 on Tuesday. The firm has a 50 day moving average of $28.56 and a two-hundred day moving average of $29.97. The stock has a market capitalization of $10.12 billion, a PE ratio of 12.81 and a beta of 1.11. 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 Interpublic Group of Companies, Inc. has a 52 week low of $26.30 and a 52 week high of $35.17.

Interpublic Group of Companies Company 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.