Envestnet Asset Management Inc. Boosts Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Envestnet Asset Management Inc. grew its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 23.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708,590 shares of the business services provider's stock after purchasing an additional 134,173 shares during the period. 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.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after buying an additional 480 shares during the period. OFI Invest Asset Management purchased a new stake in Interpublic Group of Companies during the 4th quarter valued at about $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Interpublic Group of Companies during the 3rd quarter valued at $107,000. Virtu Financial LLC bought a new position in Interpublic Group of Companies during the third quarter valued at approximately $206,000. Finally, CENTRAL TRUST Co increased its position in Interpublic Group of Companies by 10.6% during the fourth quarter. CENTRAL TRUST Co now owns 7,037 shares of the business services provider's stock valued at $197,000 after acquiring an additional 675 shares during the last quarter. Institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

IPG has been the subject of a number of analyst reports. UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their price target for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. BNP Paribas upgraded shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target for the company in a report on Friday, January 10th. Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $32.00 to $36.00 in a research report on Friday, January 24th. Argus lowered Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Citigroup reissued a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of "Hold" and an average price target of $33.67.

Insider Transactions 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 stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now directly owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company's stock.

Interpublic Group of Companies Trading Up 2.8 %

IPG stock traded up $0.64 during midday trading on Friday, hitting $23.91. 4,458,689 shares of the company's stock were exchanged, compared to its average volume of 5,115,915. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $8.91 billion, a PE ratio of 13.07 and a beta of 1.01. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The business has a 50-day simple moving average of $26.18 and a two-hundred day simple moving average of $28.22.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates 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, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 annualized dividend and a dividend yield of 5.52%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 72.13%.

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 purchase 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 shares are 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.