Sumitomo Mitsui Trust Group Inc. Sells 12,471 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 934,351 shares of the business services provider’s stock after selling 12,471 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Interpublic Group of Companies were worth $26,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC bought a new stake in Interpublic Group of Companies in the third quarter worth $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies in the third quarter worth about $32,000. Brooklyn Investment Group bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth about $60,000. Trust Co. of Vermont raised its stake in shares of Interpublic Group of Companies by 250.0% in the 3rd quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in shares of Interpublic Group of Companies by 31.8% in the 3rd 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 in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 0.1 %

Interpublic Group of Companies stock opened at $27.14 on Wednesday. The business has a 50 day moving average price of $28.50 and a two-hundred day moving average price of $29.94. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12 month low of $26.30 and a 12 month high of $35.17. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 12.80 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IPG shares. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Macquarie reiterated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, StockNews.com assumed coverage on Interpublic Group of Companies in a research note on Wednesday, February 5th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.75.

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.