DNB Asset Management AS Has $2.82 Million Stake in Omnicom Group Inc. (NYSE:OMC)

DNB Asset Management AS boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,477 shares of the business services provider’s stock after acquiring an additional 696 shares during the quarter. DNB Asset Management AS’s holdings in Omnicom Group were worth $2,823,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OMC. HHM Wealth Advisors LLC bought a new stake in shares of Omnicom Group in the 4th quarter valued at about $26,000. Frazier Financial Advisors LLC bought a new stake in Omnicom Group in the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. lifted its position in shares of Omnicom Group by 61.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the last quarter. Richardson Financial Services Inc. bought a new position in shares of Omnicom Group during the 4th quarter worth approximately $29,000. Finally, First United Bank & Trust bought a new position in shares of Omnicom Group during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Macquarie restated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. UBS Group raised their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction that occurred on 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 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 is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock traded up $1.47 during trading on Tuesday, hitting $91.36. The company had a trading volume of 1,721,845 shares, compared to its average volume of 1,631,456. The firm has a market capitalization of $17.89 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $98.71. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The stock’s 50-day moving average price is $91.33 and its 200 day moving average price is $91.83.

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

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Omnicom Group 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.