Envestnet Portfolio Solutions Inc. Purchases 18,323 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Envestnet Portfolio Solutions Inc. boosted its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 110.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,862 shares of the business services provider's stock after buying an additional 18,323 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Interpublic Group of Companies were worth $977,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IPG. Allworth Financial LP lifted its holdings in Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after acquiring an additional 480 shares during the period. OFI Invest Asset Management bought a new position in Interpublic Group of Companies during the fourth quarter valued at about $36,000. Brooklyn Investment Group purchased a new stake in Interpublic Group of Companies during the third quarter worth about $60,000. Transamerica Financial Advisors Inc. raised its position in Interpublic Group of Companies by 243,700.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock worth $78,000 after acquiring an additional 2,437 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Interpublic Group of Companies in the third quarter valued at about $107,000. 98.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IPG. Argus cut Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. BNP Paribas upgraded Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target for the company in a research report on Friday, January 10th. UBS Group raised Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their target price for the company from $29.00 to $27.00 in a report on Thursday, February 13th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research report on Tuesday. They issued a "hold" rating for the company. Finally, Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $32.00 to $36.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Interpublic Group of Companies presently has a consensus rating of "Hold" and an average target price of $33.50.

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Insider Transactions at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company's stock.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG traded up $0.39 during mid-day trading on Tuesday, reaching $26.32. 3,390,928 shares of the company were exchanged, compared to its average volume of 6,812,328. The stock has a market capitalization of $9.81 billion, a PE ratio of 14.38 and a beta of 1.14. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 52 week low of $25.85 and a 52 week high of $33.05. The company's 50 day moving average price is $27.51 and its 200 day moving average price is $29.04.

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 (EPS) 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%. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 72.13%.

Interpublic Group of Companies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.