Hsbc Holdings PLC Has $21.81 Million Stake in Interpublic Group of Companies, Inc. (The) $IPG

Hsbc Holdings PLC decreased its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 14.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 891,455 shares of the business services provider’s stock after selling 156,345 shares during the quarter. Hsbc Holdings PLC’s holdings in Interpublic Group of Companies were worth $21,814,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IPG. Assenagon Asset Management S.A. increased its stake in shares of Interpublic Group of Companies by 14,575.4% in the second quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider’s stock valued at $76,359,000 after buying an additional 3,097,994 shares in the last quarter. Goldman Sachs Group Inc. lifted its position 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 worth $231,138,000 after buying an additional 2,797,490 shares in the last quarter. Pentwater Capital Management LP grew its holdings in Interpublic Group of Companies by 568.6% during the 1st quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider’s stock worth $63,554,000 after acquiring an additional 1,990,000 shares during the last quarter. Alliancebernstein L.P. increased its position in Interpublic Group of Companies by 149.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider’s stock valued at $71,476,000 after acquiring an additional 1,574,777 shares in the last quarter. Finally, Soundwatch Capital LLC bought a new position in shares of Interpublic Group of Companies in the second quarter worth about $372,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

IPG opened at $24.63 on Wednesday. The company has a fifty day moving average price of $25.93 and a two-hundred day moving average price of $25.39. The firm 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 52 week low of $22.51 and a 52 week high of $33.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07.

Analysts Set New Price Targets

IPG has been the topic of a number of research reports. Barclays reduced their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Zacks Research cut Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Interpublic Group of Companies in a research note on Monday, November 24th. Three equities 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.com, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average price target of $32.18.

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.