Richardson Financial Services Inc. Cuts Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Richardson Financial Services Inc. cut its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,485 shares of the business services provider’s stock after selling 460 shares during the period. Richardson Financial Services Inc.’s holdings in Interpublic Group of Companies were worth $97,000 as of its most recent SEC filing.

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

Interpublic Group of Companies Trading Down 0.1 %

Shares of Interpublic Group of Companies stock opened at $28.68 on Monday. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $35.17. 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 has a market capitalization of $10.68 billion, a P/E ratio of 13.53 and a beta of 1.11. The company has a fifty day moving average of $28.80 and a 200 day moving average of $30.02.

Analysts Set New Price Targets

IPG has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on Interpublic Group of Companies in a research report on Tuesday, January 28th. They issued a “hold” rating for the company. Macquarie restated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Friday, January 10th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and an average target price of $33.75.

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.