Bank of Montreal Can Has $13.97 Million Stake in Interpublic Group of Companies, Inc. (The) $IPG

Bank of Montreal Can cut its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 570,773 shares of the business services provider’s stock after selling 62,671 shares during the period. Bank of Montreal Can owned approximately 0.16% of Interpublic Group of Companies worth $13,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in Interpublic Group of Companies in the 1st quarter valued at approximately $1,480,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Interpublic Group of Companies by 28.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 184,687 shares of the business services provider’s stock valued at $4,790,000 after purchasing an additional 41,206 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Interpublic Group of Companies by 0.4% in the first quarter. Cerity Partners LLC now owns 284,115 shares of the business services provider’s stock valued at $7,717,000 after purchasing an additional 1,265 shares during the last quarter. CWM LLC lifted its position in shares of Interpublic Group of Companies by 0.7% in the first quarter. CWM LLC now owns 91,130 shares of the business services provider’s stock worth $2,475,000 after purchasing an additional 619 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Interpublic Group of Companies during the first quarter worth $30,688,000. Institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on IPG shares. Weiss Ratings reissued a “hold (c)” rating on shares of Interpublic Group of Companies in a research report on Wednesday, October 8th. Barclays lifted their target price on Interpublic Group of Companies from $27.50 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a research report 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 price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on 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 IPG stock opened at $25.50 on Friday. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 21.61 and a beta of 1.12. The company has a 50-day simple moving average of $26.41 and a 200 day simple moving average of $25.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07.

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.