Old North State Wealth Management LLC Has $323,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Old North State Wealth Management LLC boosted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 21.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,513 shares of the business services provider’s stock after buying an additional 2,017 shares during the quarter. Old North State Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new position in shares of Interpublic Group of Companies in the 3rd quarter worth $26,000. Ashton Thomas Securities LLC acquired a new position in Interpublic Group of Companies in the third quarter valued at about $32,000. Brooklyn Investment Group bought a new position in Interpublic Group of Companies during the third quarter worth about $60,000. Trust Co. of Vermont grew 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 worth $66,000 after buying an additional 1,500 shares during the period. Finally, Raleigh Capital Management Inc. increased its stake in shares of 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 valued at $75,000 after acquiring an additional 568 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. Macquarie reissued a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. StockNews.com began coverage on shares of Interpublic Group of Companies in a research report on Wednesday. They issued a “hold” rating for the company. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Finally, Barclays upgraded 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.75.

Interpublic Group of Companies Price Performance

IPG stock opened at $28.82 on Wednesday. The stock has a 50-day moving average price of $28.77 and a two-hundred day moving average price of $30.01. The Interpublic Group of Companies, Inc. has a 1 year low of $26.30 and a 1 year high of $35.17. The stock has a market cap of $10.74 billion, a PE ratio of 13.59 and a beta of 1.11. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies Company 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.