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

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 505.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 495,934 shares of the business services provider’s stock after buying an additional 413,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.13% of Interpublic Group of Companies worth $16,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marino Stram & Associates LLC increased its position in Interpublic Group of Companies by 1.2% during the fourth quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider’s stock worth $870,000 after purchasing an additional 315 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Interpublic Group of Companies by 22.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,734 shares of the business services provider’s stock worth $56,000 after buying an additional 315 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Interpublic Group of Companies by 2.8% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,732 shares of the business services provider’s stock worth $391,000 after buying an additional 320 shares during the period. Bleakley Financial Group LLC boosted its stake in Interpublic Group of Companies by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after buying an additional 327 shares during the period. Finally, Simplicity Solutions LLC boosted its stake in Interpublic Group of Companies by 4.6% during the fourth quarter. Simplicity Solutions LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after buying an additional 327 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Up 0.4 %

IPG stock opened at $30.39 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $40.95. The company’s 50 day moving average is $31.98 and its two-hundred day moving average is $31.26. The stock has a market cap of $11.47 billion, a P/E ratio of 10.66, a PEG ratio of 2.08 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.02 earnings per share. Research analysts expect that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.34%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, February 29th. Interpublic Group of Companies’s payout ratio is presently 46.32%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IPG. Wells Fargo & Company increased their target price on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Barclays increased their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Finally, UBS Group started coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.25.

Insider Activity

In other news, CFO Ellen Tobi Johnson sold 40,393 shares of Interpublic Group of Companies stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,300,654.60. Following the transaction, the chief financial officer now directly owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Interpublic Group of Companies news, EVP Andrew Bonzani sold 40,468 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,303,069.60. Following the transaction, the executive vice president now directly owns 70,431 shares of the company’s stock, valued at approximately $2,267,878.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the completion of the transaction, the chief financial officer now directly owns 88,350 shares in the company, valued at $2,844,870. The disclosure for this sale can be found here. Insiders have sold 249,646 shares of company stock valued at $8,038,601 in the last ninety days. 0.35% of the stock is currently owned by company insiders.

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.