Kingsview Wealth Management LLC Invests $9.04 Million in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kingsview Wealth Management LLC bought a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 4th quarter, Holdings Channel reports. The institutional investor bought 322,664 shares of the business services provider’s stock, valued at approximately $9,041,000.

Several other institutional investors also recently bought and sold shares of the stock. Catalyst Capital Advisors LLC bought a new stake in shares of Interpublic Group of Companies in the third quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in Interpublic Group of Companies in the 3rd quarter worth approximately $32,000. Brooklyn Investment Group purchased a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $60,000. Trust Co. of Vermont boosted its position in shares of Interpublic Group of Companies by 250.0% during 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 last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Interpublic Group of Companies by 31.8% in the third quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 568 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on IPG. Macquarie reaffirmed a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Wednesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Finally, BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus target price of $33.75.

Interpublic Group of Companies Price Performance

IPG opened at $27.48 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $28.63 and a 200 day moving average of $29.98. The Interpublic Group of Companies, Inc. has a 52-week low of $26.30 and a 52-week high of $35.17. The stock has a market cap of $10.24 billion, a P/E ratio of 12.96 and a beta of 1.11.

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.