Omnicom Group (NYSE:OMC) Price Target Raised to $118.00

Omnicom Group (NYSE:OMC) had its price objective raised by JPMorgan Chase & Co. from $106.00 to $118.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the stock. Macquarie reiterated an outperform rating and issued a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group upped their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Bank of America raised their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an underperform rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group has a consensus rating of Moderate Buy and a consensus price target of $107.30.

Omnicom Group Stock Down 1.0 %

Shares of OMC stock opened at $101.02 on Tuesday. Omnicom Group has a twelve month low of $72.20 and a twelve month high of $104.80. The stock has a market cap of $19.78 billion, a P/E ratio of 13.65, a P/E/G ratio of 2.38 and a beta of 0.94. The stock has a 50 day moving average of $98.28 and a 200 day moving average of $94.62. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the firm earned $1.81 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Omnicom Group will post 7.88 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently declared 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insider Activity at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now directly owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds and other institutional investors have recently made changes to their positions in OMC. Boston Partners grew its holdings in Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after buying an additional 383,560 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Omnicom Group by 37.0% in 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 purchasing an additional 892,494 shares during the period. Lazard Asset Management LLC increased its position 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 worth $269,734,000 after purchasing an additional 165,136 shares during the last quarter. First Trust Advisors LP raised 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 worth $224,832,000 after purchasing an additional 186,562 shares during the period. Finally, Cooke & Bieler LP boosted 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 purchasing an additional 109,406 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

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.