Envestnet Asset Management Inc. Has $16.14 Million Stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Envestnet Asset Management Inc. lowered its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 594,109 shares of the business services provider’s stock after selling 114,481 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Interpublic Group of Companies worth $16,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IPG. Teacher Retirement System of Texas purchased a new position in Interpublic Group of Companies in the first quarter valued at about $1,480,000. Asset Management One Co. Ltd. grew its holdings in shares of Interpublic Group of Companies by 2.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider’s stock valued at $4,178,000 after purchasing an additional 3,547 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Interpublic Group of Companies by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider’s stock valued at $1,185,000 after purchasing an additional 1,170 shares during the last quarter. LPL Financial LLC grew its holdings in Interpublic Group of Companies by 0.9% in the 4th quarter. LPL Financial LLC now owns 465,454 shares of the business services provider’s stock worth $13,042,000 after acquiring an additional 4,177 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Interpublic Group of Companies by 1.0% in the 4th quarter. Schroder Investment Management Group now owns 133,888 shares of the business services provider’s stock worth $3,721,000 after purchasing an additional 1,267 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Down 4.2%

NYSE IPG opened at $24.15 on Friday. The company’s 50-day moving average price is $24.30 and its 200-day moving average price is $25.77. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. The stock has a market cap of $8.93 billion, a PE ratio of 18.43 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. Equities research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 annualized dividend and a yield of 5.47%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 100.76%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IPG. Barclays cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $34.00 to $27.50 in a research report on Wednesday, June 25th. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a “hold” rating for the company. Citigroup restated a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $32.06.

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.