Beutel Goodman & Co Ltd. Cuts Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Beutel Goodman & Co Ltd. cut its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 2.9% during the second quarter, Holdings Channel reports. The institutional investor owned 8,593,612 shares of the business services provider’s stock after selling 254,833 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Interpublic Group of Companies were worth $210,371,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IPG. Parkside Financial Bank & Trust increased its holdings in shares of Interpublic Group of Companies by 72.0% in the 2nd 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 in the last quarter. Brooklyn Investment Group boosted its position in shares of Interpublic Group of Companies by 20.0% in the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock worth $64,000 after buying an additional 391 shares in the last quarter. Private Trust Co. NA raised its position in Interpublic Group of Companies by 22.9% during the second quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock worth $64,000 after acquiring an additional 485 shares during the last quarter. Assetmark Inc. lifted its position in shares of Interpublic Group of Companies by 54.1% in the second quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Interpublic Group of Companies in the 2nd quarter valued at about $75,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 1.7%

NYSE:IPG opened at $24.63 on Friday. 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 current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average of $25.87 and a 200-day moving average of $25.38.

Analysts Set New Price Targets

Several research firms have recently issued reports on IPG. Barclays decreased their price objective on Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Interpublic Group of Companies in a report on Monday, November 24th. Zacks Research downgraded shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies 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.