Omnicom Group (NYSE:OMC) Hits New 12-Month High – Here’s What Happened

Omnicom Group Inc. (NYSE:OMC)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $105.14 and last traded at $104.90, with a volume of 245361 shares. The stock had previously closed at $103.26.

Analysts Set New Price Targets

Several research firms have issued reports on OMC. UBS Group increased their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Bank of America lifted their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Macquarie reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.30.

Omnicom Group Price Performance

The stock’s fifty day moving average is $99.29 and its 200-day moving average is $95.02. The stock has a market cap of $20.35 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

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

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 20th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Friday, September 20th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insider Activity

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now directly owns 10,356 shares in the company, valued at $941,153.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Omnicom Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners raised its holdings in 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Omnicom Group by 37.0% in the 2nd 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 in the last quarter. Lazard Asset Management LLC lifted its position in shares of Omnicom Group by 6.3% during the 1st 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. Cooke & Bieler LP grew its stake in shares of Omnicom Group by 4.8% during the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after purchasing an additional 109,406 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after buying an additional 364,665 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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.