Envestnet Portfolio Solutions Inc. Raises Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 110.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,862 shares of the business services provider’s stock after purchasing an additional 18,323 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Interpublic Group of Companies were worth $977,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. State Street Corp increased its stake in shares of Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Interpublic Group of Companies by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock worth $362,538,000 after acquiring an additional 511,607 shares during the last quarter. Geode Capital Management LLC boosted its position in Interpublic Group of Companies by 0.9% during the third quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock worth $298,107,000 after acquiring an additional 81,265 shares during the last quarter. Pacer Advisors Inc. boosted its position in Interpublic Group of Companies by 25,637.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the last quarter. Finally, Amundi boosted its position in Interpublic Group of Companies by 133.6% during the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock worth $150,393,000 after acquiring an additional 3,089,387 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. BNP Paribas upgraded shares of 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. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research report on Monday, March 17th. They set a “hold” rating on the stock. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. Finally, Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Stock Up 0.1 %

Shares of IPG opened at $26.51 on Monday. The firm has a market cap of $9.88 billion, a PE ratio of 14.48 and a beta of 1.14. The company’s fifty day moving average is $27.53 and its two-hundred day moving average is $29.08. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.98%. Interpublic Group of Companies’s payout ratio is 72.13%.

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.