Benjamin Edwards Inc. Raises Stock Position in Interpublic Group of Companies, Inc. (The) $IPG

Benjamin Edwards Inc. boosted its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 16.7% in the third quarter, Holdings Channel reports. The fund owned 235,353 shares of the business services provider’s stock after purchasing an additional 33,758 shares during the quarter. Benjamin Edwards Inc.’s holdings in Interpublic Group of Companies were worth $6,568,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HB Wealth Management LLC increased its holdings in Interpublic Group of Companies by 6.8% during the third quarter. HB Wealth Management LLC now owns 16,110 shares of the business services provider’s stock valued at $450,000 after buying an additional 1,028 shares during the last quarter. Burford Brothers Inc. bought a new position in Interpublic Group of Companies in the 3rd quarter worth $507,000. CX Institutional lifted its position in Interpublic Group of Companies by 51.0% during the third quarter. CX Institutional now owns 9,593 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 3,240 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Interpublic Group of Companies by 3.5% during the third quarter. Park Avenue Securities LLC now owns 26,566 shares of the business services provider’s stock valued at $741,000 after purchasing an additional 898 shares during the period. Finally, Greenleaf Trust increased its position in Interpublic Group of Companies by 4.1% in the third quarter. Greenleaf Trust now owns 27,442 shares of the business services provider’s stock worth $766,000 after buying an additional 1,076 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Down 1.7%

Shares of NYSE IPG opened at $24.63 on Friday. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day moving average is $24.80 and its two-hundred day moving average is $25.54. The stock has a market capitalization of $8.95 billion, a P/E ratio of 20.87 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IPG shares. Barclays decreased 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 note on Wednesday, November 12th. Zacks Research cut shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.28.

Interpublic Group of Companies Profile

Interpublic Group of Companies (NYSE: IPG) is a leading global provider of marketing solutions and communications services. Through its portfolio of agencies and specialized networks, IPG delivers a broad spectrum of services, including advertising, digital marketing, media planning and buying, public relations, branding, and data analytics. Its creative agencies develop integrated campaigns that span television, print, social media, mobile, experiential and other emerging channels, while its media networks leverage proprietary tools and strategic partnerships to optimize audience targeting and performance.

Since its formation in 1961 as one of the first marketing services holding companies, Interpublic has expanded through strategic acquisitions and organic growth to become one of the so-called “Big Four” advertising conglomerates.