Zurcher Kantonalbank Zurich Cantonalbank Buys 79,404 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 954,703 shares of the business services provider’s stock after buying an additional 79,404 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.26% of Interpublic Group of Companies worth $30,197,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IPG. California State Teachers Retirement System boosted its holdings in Interpublic Group of Companies by 1.7% in the first quarter. California State Teachers Retirement System now owns 641,724 shares of the business services provider’s stock valued at $20,939,000 after acquiring an additional 10,620 shares during the last quarter. iA Global Asset Management Inc. bought a new position in shares of Interpublic Group of Companies in the 1st quarter valued at about $244,000. Swedbank AB acquired a new stake in shares of Interpublic Group of Companies during the 1st quarter worth approximately $20,493,000. Cetera Investment Advisers raised its stake in shares of Interpublic Group of Companies by 87.4% during the first quarter. Cetera Investment Advisers now owns 73,149 shares of the business services provider’s stock worth $2,387,000 after buying an additional 34,122 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in Interpublic Group of Companies by 26.3% in the first quarter. Cetera Advisors LLC now owns 27,838 shares of the business services provider’s stock valued at $908,000 after buying an additional 5,799 shares during the period. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Trading Down 0.5 %

NYSE:IPG opened at $30.48 on Friday. The business has a 50 day moving average price of $30.32 and a two-hundred day moving average price of $30.50. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $11.35 billion, a P/E ratio of 14.38 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a twelve month low of $26.88 and a twelve month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Interpublic Group of Companies’s revenue was down 2.9% on a year-over-year basis. As a group, analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Macquarie reiterated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Wells Fargo & Company restated an “underweight” rating and set a $26.00 target price (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.57.

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.