The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by abrdn plc

abrdn plc lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,630 shares of the business services provider's stock after selling 47,079 shares during the period. abrdn plc owned about 0.13% of Interpublic Group of Companies worth $13,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rosenberg Matthew Hamilton increased its position in Interpublic Group of Companies by 9.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider's stock valued at $131,000 after purchasing an additional 365 shares during the period. Ballentine Partners LLC increased its holdings in Interpublic Group of Companies by 2.9% during the third quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider's stock valued at $445,000 after buying an additional 399 shares during the period. Empirical Finance LLC raised its stake in Interpublic Group of Companies by 1.3% in the third quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider's stock worth $1,031,000 after buying an additional 409 shares in the last quarter. West Oak Capital LLC lifted its holdings in Interpublic Group of Companies by 0.8% during the fourth quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider's stock worth $1,558,000 after buying an additional 435 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in Interpublic Group of Companies by 0.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 122,533 shares of the business services provider's stock valued at $3,876,000 after acquiring an additional 457 shares in the last quarter. Institutional investors own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IPG shares. Macquarie restated a "neutral" rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $32.00 to $36.00 in a report on Friday, January 24th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Wednesday, February 5th. They set a "hold" rating on the stock. Finally, JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $33.75.

Interpublic Group of Companies Stock Performance

Shares of IPG traded down $0.04 during trading hours on Tuesday, hitting $27.14. The stock had a trading volume of 4,145,001 shares, compared to its average volume of 4,874,633. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 12.80 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day moving average price of $28.50 and a 200 day moving average price of $29.94. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $35.17.

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.