Envestnet Asset Management Inc. Has $19.86 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Envestnet Asset Management Inc. grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 708,590 shares of the business services provider’s stock after buying an additional 134,173 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Interpublic Group of Companies worth $19,855,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Interpublic Group of Companies by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock worth $362,538,000 after purchasing an additional 511,607 shares during the period. Geode Capital Management LLC boosted its position in shares of Interpublic Group of Companies by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider’s stock worth $266,614,000 after buying an additional 81,996 shares during the period. Pacer Advisors Inc. boosted its position in shares of Interpublic Group of Companies by 25,637.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after buying an additional 7,374,491 shares during the period. Amundi grew its holdings in shares of 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 valued at $150,393,000 after buying an additional 3,089,387 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Interpublic Group of Companies by 7.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,271,759 shares of the business services provider’s stock valued at $119,695,000 after buying an additional 310,621 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on IPG shares. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. StockNews.com started coverage on shares of Interpublic Group of Companies in a research note on Thursday, April 10th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.50.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the sale, the chief financial officer now owns 143,373 shares of the company’s stock, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $25.06 on Tuesday. The stock has a market capitalization of $9.34 billion, a P/E ratio of 13.69 and a beta of 1.01. The business has a 50-day moving average of $26.38 and a two-hundred day moving average of $28.33. The Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

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 return on equity of 27.10% and a net margin of 6.45%. On average, equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 5.27%. Interpublic Group of Companies’s payout ratio is presently 72.13%.

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

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.