Zurcher Kantonalbank Zurich Cantonalbank Has $31.37 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,119,711 shares of the business services provider's stock after buying an additional 165,008 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.30% of Interpublic Group of Companies worth $31,374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after buying an additional 480 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Interpublic Group of Companies during the 3rd quarter worth about $32,000. OFI Invest Asset Management acquired a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $36,000. Brooklyn Investment Group acquired a new stake in Interpublic Group of Companies in the third quarter valued at approximately $60,000. Finally, Transamerica Financial Advisors Inc. boosted its stake in Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock valued at $78,000 after purchasing an additional 2,437 shares during the last quarter. Institutional investors own 98.43% of the company's stock.

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Insider Transactions at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the transaction, the chief financial officer now directly owns 143,373 shares of the company's stock, valued at $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company's stock.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock traded up $0.38 on Friday, hitting $26.47. 10,903,843 shares of the company were exchanged, compared to its average volume of 4,541,903. The Interpublic Group of Companies, Inc. has a 1-year low of $25.91 and a 1-year high of $35.17. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 14.46 and a beta of 1.14. The company has a 50-day moving average price of $27.66 and a 200 day moving average price of $29.36. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. As a group, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies declared that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.99%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio is presently 72.13%.

Analyst Ratings Changes

A number of research firms have weighed in on IPG. Argus cut shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. StockNews.com initiated coverage on Interpublic Group of Companies in a research note on Sunday, March 9th. They set a "hold" rating for the company. Wells Fargo & Company raised Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. Barclays raised Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $33.50.

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.