269,215 Shares in Omnicom Group Inc. (NYSE:OMC) Bought by Norges Bank

Norges Bank purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, HoldingsChannel reports. The firm purchased 269,215 shares of the business services provider’s stock, valued at approximately $23,163,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OMC. ST Germain D J Co. Inc. purchased a new stake in Omnicom Group during the 4th quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in shares of Omnicom Group by 645.2% during the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 271 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 195 shares during the period. Whittier Trust Co. grew its holdings in shares of Omnicom Group by 194.6% in the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock worth $42,000 after purchasing an additional 323 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Omnicom Group by 742.4% in the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock worth $48,000 after buying an additional 490 shares during the period. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OMC. JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. UBS Group cut their target price on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday, December 11th. Finally, Barclays reduced their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.43.

Omnicom Group Stock Down 3.6 %

OMC stock opened at $72.65 on Monday. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 1.94 and a beta of 0.87. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The business’s 50 day moving average price is $82.42 and its two-hundred day moving average price is $91.62. Omnicom Group Inc. has a fifty-two week low of $72.54 and a fifty-two week high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period in the prior year, the business earned $2.20 earnings per share. As a group, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.85%. Omnicom Group’s dividend payout ratio (DPR) is currently 37.58%.

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.