Manning & Napier Advisors LLC Reduces Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Manning & Napier Advisors LLC cut its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 39.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,607 shares of the business services provider’s stock after selling 38,201 shares during the period. Manning & Napier Advisors LLC’s holdings in Interpublic Group of Companies were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in IPG. Catalyst Capital Advisors LLC purchased a new stake in shares of Interpublic Group of Companies in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Interpublic Group of Companies in the third quarter valued at approximately $32,000. Brooklyn Investment Group purchased a new stake in shares of Interpublic Group of Companies in the third quarter valued at approximately $60,000. Trust Co. of Vermont grew its position in shares of Interpublic Group of Companies by 250.0% in the third quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in Interpublic Group of Companies by 31.8% in the third quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 568 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IPG. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Friday, January 10th. Barclays upgraded 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 Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. StockNews.com began coverage on Interpublic Group of Companies in a report on Tuesday. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $39.00 in a report on Monday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.75.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $28.72 on Friday. The firm has a market capitalization of $10.70 billion, a PE ratio of 13.54 and a beta of 1.11. The business’s fifty day moving average price is $28.83 and its 200 day moving average price is $30.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 12 month low of $26.30 and a 12 month high of $35.17.

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.