Western Pacific Wealth Management LP Grows Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Western Pacific Wealth Management LP lifted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 54.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,736 shares of the business services provider’s stock after acquiring an additional 3,420 shares during the period. Western Pacific Wealth Management LP’s holdings in Interpublic Group of Companies were worth $273,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Catalyst Capital Advisors LLC purchased a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Interpublic Group of Companies during the third quarter valued at $32,000. Brooklyn Investment Group purchased a new stake in shares of Interpublic Group of Companies during the third quarter valued at $60,000. Trust Co. of Vermont increased its position 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 during the period. Finally, Raleigh Capital Management Inc. raised its stake in 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 worth $75,000 after acquiring an additional 568 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $28.68 on Friday. The company has a market capitalization of $10.68 billion, a PE ratio of 13.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average price is $28.80 and its 200 day moving average price is $30.02. The Interpublic Group of Companies, Inc. has a 1 year low of $26.30 and a 1 year high of $35.17.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IPG shares. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $36.00 in a report on Friday, January 24th. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Friday, January 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 began coverage on shares of Interpublic Group of Companies in a research report on Tuesday, January 28th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.