Trading Report: The Omnicom Group Inc. (OMC) Now Covered by Royal Bank Of Canada

The Omnicom Group Inc. (OMC) Now Covered by Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a research report report published on Friday. The brokerage issued a sector perform rating and a $87.00 target price on the stock.

A number of other research analysts have also weighed in on OMC. BMO Capital Markets reissued a hold rating and set a $80.00 target price on shares of Omnicom Group in a research report on Sunday, July 17th. Zacks Investment Research lowered shares of Omnicom Group from a hold rating to a sell rating in a research report on Wednesday, July 13th. Albert Fried & Company reissued a hold rating and set a $85.00 target price on shares of Omnicom Group in a research report on Thursday, July 14th. Credit Suisse Group AG assumed coverage on shares of Omnicom Group in a research report on Thursday, September 15th. They set a neutral rating and a $83.00 target price for the company. Finally, RBC Capital Markets assumed coverage on shares of Omnicom Group in a research report on Thursday, October 6th. They set a sector perform rating and a $87.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $82.64.

Omnicom Group (NYSE:OMC) opened at 82.68 on Friday. The firm has a 50-day moving average of $84.52 and a 200-day moving average of $83.42. The company has a market cap of $19.56 billion, a PE ratio of 18.08 and a beta of 1.35. Omnicom Group has a one year low of $66.48 and a one year high of $87.50.

In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the sale, the director now directly owns 30,440 shares of the company’s stock, valued at $2,573,702. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Omnicom Group during the first quarter worth about $40,095,000. Cypress Capital Group raised its position in shares of Omnicom Group by 58.3% in the first quarter. Cypress Capital Group now owns 11,794 shares of the company’s stock worth $982,000 after buying an additional 4,344 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Omnicom Group by 88.1% in the second quarter. Acadian Asset Management LLC now owns 12,086 shares of the company’s stock worth $984,000 after buying an additional 5,662 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Omnicom Group by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 211,987 shares of the company’s stock worth $17,275,000 after buying an additional 772 shares during the last quarter. Finally, PGGM Investments raised its position in shares of Omnicom Group by 7.0% in the second quarter. PGGM Investments now owns 527,331 shares of the company’s stock worth $42,972,000 after buying an additional 34,588 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

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