Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Envestnet Portfolio Solutions Inc. lessened its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,273 shares of the business services provider’s stock after selling 1,817 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Interpublic Group of Companies were worth $570,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its holdings in shares of Interpublic Group of Companies by 5.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider’s stock valued at $377,127,000 after purchasing an additional 674,938 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Interpublic Group of Companies by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider’s stock valued at $374,304,000 after purchasing an additional 842,925 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Interpublic Group of Companies by 49.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock valued at $231,138,000 after purchasing an additional 2,797,490 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Interpublic Group of Companies by 32.0% in the 1st quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider’s stock valued at $135,051,000 after purchasing an additional 1,206,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Interpublic Group of Companies by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,867,134 shares of the business services provider’s stock valued at $132,191,000 after purchasing an additional 196,906 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IPG shares. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Zacks Research lowered shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. UBS Group decreased their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.27.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $26.97 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 22.86 and a beta of 1.09. The firm’s fifty day simple moving average is $26.54 and its 200 day simple moving average is $25.21. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 4.9%. Interpublic Group of Companies’s payout ratio is 111.86%.

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.