Fifth Third Bancorp Trims Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Fifth Third Bancorp lessened its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 17.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,911 shares of the business services provider’s stock after selling 7,000 shares during the quarter. Fifth Third Bancorp’s holdings in Interpublic Group of Companies were worth $950,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IPG. Catalyst Capital Advisors LLC purchased a new position in shares of Interpublic Group of Companies during the third quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new position in Interpublic Group of Companies during the 3rd quarter worth $32,000. Brooklyn Investment Group acquired a new position in Interpublic Group of Companies in the third quarter valued at $60,000. Trust Co. of Vermont raised its holdings in shares of Interpublic Group of Companies by 250.0% in the third quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider’s stock valued at $66,000 after buying an additional 1,500 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Interpublic Group of Companies by 31.8% during the third quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock worth $75,000 after buying an additional 568 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of several recent research reports. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $39.00 in a research report on Monday. Finally, Macquarie reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $33.75.

Interpublic Group of Companies Stock Down 0.1 %

Shares of NYSE IPG opened at $28.84 on Thursday. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 13.60 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 52 week low of $26.30 and a 52 week high of $35.17. The firm has a 50-day moving average price of $28.82 and a 200 day moving average price of $30.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

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.