Brokerages Set Omnicom Group Inc. (NYSE:OMC) PT at $108.89

Omnicom Group Inc. (NYSE:OMC) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $110.00.

A number of analysts have issued reports on OMC shares. Barclays lifted their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. UBS Group boosted their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th.

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Omnicom Group

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after purchasing an additional 759,980 shares during the period. Geode Capital Management LLC grew its position in Omnicom Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock worth $525,960,000 after buying an additional 72,447 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after acquiring an additional 892,494 shares during the period. Cooke & Bieler LP raised its holdings in Omnicom Group by 4.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Up 0.2 %

NYSE OMC opened at $90.32 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group has a 1-year low of $83.65 and a 1-year high of $107.00. The firm’s fifty day simple moving average is $101.58 and its 200-day simple moving average is $97.27. The company has a market capitalization of $17.62 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the firm posted $1.86 EPS. As a group, sell-side analysts anticipate that Omnicom Group will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, December 20th. Omnicom Group’s dividend payout ratio is currently 38.25%.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.