Abich Financial Wealth Management LLC Decreases Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Abich Financial Wealth Management LLC lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 58.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,074 shares of the business services provider’s stock after selling 1,531 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $34,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IPG. Benjamin Edwards Inc. increased its stake in shares of Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after purchasing an additional 900 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Interpublic Group of Companies during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its stake in shares of Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after purchasing an additional 405 shares during the period. Finally, Quest Partners LLC purchased a new position in Interpublic Group of Companies during the second quarter worth about $39,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded down $0.11 during trading on Tuesday, reaching $30.13. 337,278 shares of the company’s stock traded hands, compared to its average volume of 3,918,954. The stock has a market capitalization of $11.37 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 4.97 and a beta of 1.09. The Interpublic Group of Companies, Inc. has a 12 month low of $27.68 and a 12 month high of $35.17. The company has a 50 day moving average of $31.31 and a 200-day moving average of $30.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.51% and a net margin of 7.44%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. On average, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Analysts Set New Price Targets

IPG has been the topic of a number of research analyst reports. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.57.

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.