Bank of Nova Scotia Has $10.62 Million Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Bank of Nova Scotia raised its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 15.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 433,882 shares of the business services provider’s stock after buying an additional 58,993 shares during the period. Bank of Nova Scotia’s holdings in Interpublic Group of Companies were worth $10,621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Parkside Financial Bank & Trust raised its holdings in shares of Interpublic Group of Companies by 72.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock worth $34,000 after acquiring an additional 585 shares in the last quarter. Brooklyn Investment Group increased its position in 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 purchasing an additional 391 shares during the last quarter. Private Trust Co. NA increased its position in Interpublic Group of Companies by 22.9% in the 2nd quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock worth $64,000 after purchasing an additional 485 shares during the last quarter. Assetmark Inc. raised its stake in shares of Interpublic Group of Companies by 54.1% during the 2nd 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 in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at about $75,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $24.63 on Thursday. The stock has a 50-day simple moving average of $25.69 and a 200 day simple moving average of $25.38. 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 market capitalization of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IPG shares. Weiss Ratings restated a “hold (c-)” rating on shares of Interpublic Group of Companies in a report on Monday, November 24th. Barclays decreased their target price 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 report on Wednesday, November 12th. Zacks Research downgraded shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.82.

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.