Omnicom Group (NYSE:OMC) Price Target Raised to $89.00 at Bank of America

Omnicom Group (NYSE:OMC) had its price target hoisted by Bank of America from $87.00 to $89.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an underperform rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the company. Macquarie reissued an outperform rating and issued a $110.00 price target on shares of Omnicom Group in a report on Wednesday, July 17th. UBS Group upped their target price 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Omnicom Group presently has an average rating of Moderate Buy and an average target price of $106.30.

Omnicom Group Price Performance

Omnicom Group stock opened at $98.74 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The firm’s 50-day simple moving average is $94.40 and its 200 day simple moving average is $93.22. Omnicom Group has a 52 week low of $72.20 and a 52 week high of $102.13. The firm has a market capitalization of $19.34 billion, a PE ratio of 13.34, a P/E/G ratio of 2.36 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS 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 business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the business earned $1.81 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Omnicom Group will post 7.95 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.84%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the 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 transaction, the director now directly owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the 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 completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OMC. International Assets Investment Management LLC raised its position in shares of Omnicom Group by 8,551.1% during the 4th quarter. International Assets Investment Management LLC now owns 7,959 shares of the business services provider’s stock worth $689,000 after buying an additional 7,867 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Omnicom Group in the fourth quarter worth about $208,000. Merit Financial Group LLC lifted its stake in Omnicom Group by 10.6% during the fourth quarter. Merit Financial Group LLC now owns 3,420 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 329 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Omnicom Group during the fourth quarter worth $1,542,000. Finally, Kovitz Investment Group Partners LLC lifted its position in Omnicom Group by 5.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,804 shares of the business services provider’s stock worth $2,492,000 after buying an additional 1,435 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

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.