State Board of Administration of Florida Retirement System Decreases Stake in Interpublic Group of Companies, Inc. (The) $IPG

State Board of Administration of Florida Retirement System reduced its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 11.3% during the second quarter, HoldingsChannel reports. The fund owned 349,906 shares of the business services provider’s stock after selling 44,705 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Interpublic Group of Companies were worth $8,566,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its stake in shares of Interpublic Group of Companies by 72.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock worth $34,000 after purchasing an additional 585 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Interpublic Group of Companies by 20.0% during the 1st 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 in the last quarter. Private Trust Co. NA boosted 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 buying an additional 485 shares during the period. Assetmark Inc. boosted 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 buying an additional 1,078 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in Interpublic Group of Companies in the 2nd quarter valued at approximately $75,000. Institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

IPG has been the topic of a number of analyst reports. Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Barclays reduced their price target on Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Zacks Research cut Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research note on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies Trading Down 1.7%

Interpublic Group of Companies stock opened at $24.63 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The stock has a market cap of $8.95 billion, a P/E ratio of 20.87 and a beta of 1.12. The firm’s fifty day moving average price is $25.93 and its 200-day moving average price is $25.39.

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.