Envestnet Asset Management Inc. Has $50.97 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Envestnet Asset Management Inc. increased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,752,025 shares of the business services provider’s stock after buying an additional 67,018 shares during the period. Envestnet Asset Management Inc.’s holdings in Interpublic Group of Companies were worth $50,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IPG. Hazlett Burt & Watson Inc. increased its stake in Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 900 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new position in Interpublic Group of Companies in the second quarter valued at approximately $32,000. Quest Partners LLC bought a new position in Interpublic Group of Companies in the second quarter valued at approximately $39,000. Finally, Salomon & Ludwin LLC increased its stake in Interpublic Group of Companies by 2,024.6% in the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 1,235 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Bank of America decreased their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $31.08 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $35.17. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 5.17 and a beta of 1.10. The company’s fifty day moving average is $30.93 and its 200 day moving average is $30.96.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Interpublic Group of Companies’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.25%. Interpublic Group of Companies’s dividend payout ratio is 46.98%.

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.