AlphaStar Capital Management LLC Purchases New Position in Interpublic Group of Companies, Inc. (The) $IPG

AlphaStar Capital Management LLC purchased a new stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) in the 2nd quarter, Holdings Channel reports. The fund purchased 9,278 shares of the business services provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in Interpublic Group of Companies in the first quarter worth approximately $1,480,000. Sound Income Strategies LLC boosted its holdings in Interpublic Group of Companies by 5.6% in the second quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider’s stock worth $11,196,000 after purchasing an additional 24,258 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Interpublic Group of Companies by 42.1% in the second quarter. Shell Asset Management Co. now owns 63,315 shares of the business services provider’s stock worth $1,550,000 after purchasing an additional 18,759 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Interpublic Group of Companies by 49.0% in the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock worth $231,138,000 after purchasing an additional 2,797,490 shares during the last quarter. Finally, Swedbank AB boosted its holdings in Interpublic Group of Companies by 10.6% in the first quarter. Swedbank AB now owns 680,466 shares of the business services provider’s stock worth $18,481,000 after purchasing an additional 64,983 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 0.2%

Shares of IPG stock opened at $25.65 on Friday. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 21.74 and a beta of 1.09. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The company’s fifty day moving average price is $26.58 and its 200-day moving average price is $25.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IPG shares. Barclays lifted their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. UBS Group dropped their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Finally, Zacks Research cut shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.27.

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.