Omnicom Group (NYSE:OMC) Sees Strong Trading Volume

Shares of Omnicom Group Inc. (NYSE:OMC) saw an uptick in trading volume on Thursday . 577,332 shares were traded during trading, a decline of 64% from the previous session’s volume of 1,613,612 shares.The stock last traded at $91.91 and had previously closed at $90.75.

Analysts Set New Price Targets

OMC has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Thursday, March 28th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Macquarie reaffirmed an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $104.70.

Omnicom Group Stock Up 2.9 %

The firm has a market capitalization of $18.28 billion, a PE ratio of 12.67, a P/E/G ratio of 2.18 and a beta of 0.95. The stock has a 50-day simple moving average of $91.46 and a 200-day simple moving average of $91.46. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. Omnicom Group’s payout ratio is 37.84%.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omnicom Group

A number of large investors have recently made changes to their positions in OMC. Beutel Goodman & Co Ltd. lifted its holdings in Omnicom Group by 1.0% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock worth $363,148,000 after purchasing an additional 42,075 shares in the last quarter. Boston Partners boosted its position in shares of Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after acquiring an additional 383,560 shares during the period. Lazard Asset Management LLC grew its stake in Omnicom Group by 6.3% during the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after acquiring an additional 165,136 shares in the last quarter. First Trust Advisors LP grew its stake in Omnicom Group by 7.7% during the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after acquiring an additional 186,562 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Omnicom Group by 1.9% during the 4th quarter. Baird Financial Group Inc. now owns 2,370,253 shares of the business services provider’s stock worth $205,051,000 after acquiring an additional 43,861 shares during the period. 91.97% of the stock is owned by institutional investors.

About Omnicom Group

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.