The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,119,711 shares of the business services provider’s stock after purchasing an additional 165,008 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.30% of Interpublic Group of Companies worth $31,374,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IPG. Janney Montgomery Scott LLC lifted its position in shares of Interpublic Group of Companies by 12.4% during the third quarter. Janney Montgomery Scott LLC now owns 31,648 shares of the business services provider’s stock worth $1,001,000 after purchasing an additional 3,499 shares in the last quarter. Assetmark Inc. raised its holdings in Interpublic Group of Companies by 48.8% in the third quarter. Assetmark Inc. now owns 41,258 shares of the business services provider’s stock valued at $1,305,000 after acquiring an additional 13,537 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in Interpublic Group of Companies in the third quarter valued at $207,000. Los Angeles Capital Management LLC raised its holdings in Interpublic Group of Companies by 298.4% in the third quarter. Los Angeles Capital Management LLC now owns 35,194 shares of the business services provider’s stock valued at $1,113,000 after acquiring an additional 26,360 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Interpublic Group of Companies in the third quarter valued at $32,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Stock Up 0.1 %

IPG stock opened at $28.22 on Tuesday. The firm has a fifty day moving average price of $27.75 and a two-hundred day moving average price of $29.44. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 15.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 1-year low of $26.15 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate 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%. Research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s payout ratio is currently 72.13%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IPG shares. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Sunday. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.50.

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.