Mirae Asset Global Investments Co. Ltd. Buys 51,051 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Mirae Asset Global Investments Co. Ltd. raised its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 18.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 327,086 shares of the business services provider’s stock after acquiring an additional 51,051 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Interpublic Group of Companies were worth $9,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after acquiring an additional 3,920,975 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Interpublic Group of Companies by 240.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after acquiring an additional 20,395 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Interpublic Group of Companies by 2,679.9% during the 3rd quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock worth $965,000 after acquiring an additional 29,425 shares during the period. ING Groep NV bought a new position in shares of Interpublic Group of Companies during the 3rd quarter worth about $1,589,000. Finally, Bridgewater Associates LP lifted its holdings in shares of Interpublic Group of Companies by 956.5% during the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after acquiring an additional 94,821 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Down 1.0 %

IPG opened at $27.70 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $10.32 billion, a PE ratio of 13.06 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 1-year low of $26.30 and a 1-year high of $35.17. The firm has a 50-day moving average price of $28.68 and a two-hundred day moving average price of $29.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IPG shares. StockNews.com started coverage on shares of Interpublic Group of Companies in a report on Wednesday. They set a “hold” rating for the company. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Friday, January 10th. Finally, Macquarie reissued a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.75.

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.