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

Envestnet Asset Management Inc. increased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,752,025 shares of the business services provider’s stock after purchasing an additional 67,018 shares during the period. Envestnet Asset Management Inc. owned approximately 0.46% of Interpublic Group of Companies worth $50,966,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Federated Hermes Inc. lifted its position in shares of Interpublic Group of Companies by 6.5% during the 2nd quarter. Federated Hermes Inc. now owns 68,974 shares of the business services provider’s stock worth $2,006,000 after purchasing an additional 4,233 shares during the last quarter. Vest Financial LLC raised its holdings in Interpublic Group of Companies by 39.3% in the 2nd quarter. Vest Financial LLC now owns 789,466 shares of the business services provider’s stock valued at $22,966,000 after acquiring an additional 222,693 shares in the last quarter. American Century Companies Inc. raised its holdings in Interpublic Group of Companies by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after acquiring an additional 255,250 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of Interpublic Group of Companies by 562.5% in the 2nd quarter. Headlands Technologies LLC now owns 8,507 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 7,223 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $31.08 on Thursday. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 5.17 and a beta of 1.10. The business has a 50-day moving average of $30.93 and a 200-day moving average of $30.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $35.17.

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

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.25%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Ratings Changes

A number of equities research analysts recently commented on IPG shares. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on 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. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price target for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Bank of America dropped their price objective on 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. Finally, Barclays dropped their price objective on 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.00.

Interpublic Group of Companies 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.