State of Michigan Retirement System Decreases Position in Interpublic Group of Companies, Inc. (The) $IPG

State of Michigan Retirement System decreased its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,528 shares of the business services provider’s stock after selling 4,364 shares during the period. State of Michigan Retirement System’s holdings in Interpublic Group of Companies were worth $2,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group raised its stake in shares of Interpublic Group of Companies by 20.0% in the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock valued at $64,000 after buying an additional 391 shares during the period. Private Trust Co. NA increased its holdings in Interpublic Group of Companies by 22.9% in the 2nd quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock worth $64,000 after acquiring an additional 485 shares during the last quarter. Assetmark Inc. increased its holdings in Interpublic Group of Companies by 54.1% in the 2nd quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock worth $75,000 after acquiring an additional 1,078 shares during the last quarter. Ancora Advisors LLC bought a new stake in Interpublic Group of Companies in the 1st quarter valued at about $102,000. Finally, Private Wealth Asset Management LLC lifted its holdings in Interpublic Group of Companies by 10.9% during the second quarter. Private Wealth Asset Management LLC now owns 4,060 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 400 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. UBS Group cut their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Finally, Zacks Research lowered Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.27.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $25.18 on Thursday. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The company has a market cap of $9.22 billion, a PE ratio of 21.34 and a beta of 1.12. The stock has a 50-day moving average price of $26.47 and a 200-day moving average price of $25.38.

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.