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

Zurcher Kantonalbank Zurich Cantonalbank raised its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 9.1% during the 3rd quarter, Holdings Channel.com reports. 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’s holdings in Interpublic Group of Companies were worth $30,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IPG. Charles Schwab Investment Management Inc. raised its position in Interpublic Group of Companies by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock valued at $393,064,000 after purchasing an additional 270,857 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after acquiring an additional 828,150 shares in the last quarter. Ariel Investments LLC raised its stake in Interpublic Group of Companies by 3.5% during the second quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock worth $166,117,000 after acquiring an additional 193,898 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Interpublic Group of Companies by 4.8% in the second quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock worth $163,049,000 after acquiring an additional 255,250 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after purchasing an additional 899,332 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Down 0.5 %

IPG opened at $30.48 on Friday. 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’s 50-day moving average price is $30.32 and its two-hundred day moving average price is $30.50. The Interpublic Group of Companies, Inc. has a twelve month low of $26.88 and a twelve month high of $35.17. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 14.38 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting 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 firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on IPG. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Macquarie reissued a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Bank of America lowered their target price on shares of 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 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, the stock presently has a consensus rating of “Hold” and an average target price of $30.57.

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.