The Omnicom Group Inc. (OMC) Research Coverage Started at RBC Capital Markets

The Omnicom Group Inc. (OMC) Research Coverage Started at RBC Capital Markets

RBC Capital Markets started coverage on shares of Omnicom Group Inc. (NYSE:OMC) in a research note published on Thursday morning. The brokerage issued a sector perform rating and a $87.00 price objective on the stock.

Several other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Omnicom Group from a hold rating to a buy rating and set a $93.00 price objective for the company in a report on Thursday, October 6th. Credit Suisse Group AG assumed coverage on shares of Omnicom Group in a report on Thursday, September 15th. They set a neutral rating and a $83.00 price objective for the company. Telsey Advisory Group raised their price objective on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a market perform rating in a report on Wednesday, July 20th. BMO Capital Markets reissued a hold rating and set a $80.00 price objective on shares of Omnicom Group in a report on Sunday, July 17th. Finally, Albert Fried & Company reissued a hold rating and set a $85.00 price objective on shares of Omnicom Group in a report on Thursday, July 14th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Omnicom Group presently has an average rating of Hold and a consensus price target of $82.64.

Shares of Omnicom Group (NYSE:OMC) opened at 81.94 on Thursday. The stock’s 50 day moving average is $84.58 and its 200 day moving average is $83.42. The stock has a market capitalization of $19.38 billion, a PE ratio of 17.92 and a beta of 1.35. Omnicom Group has a 52-week low of $66.48 and a 52-week high of $87.50.

The business also recently declared a quarterly dividend, which was paid on Monday, October 10th. Shareholders of record on Thursday, September 22nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, September 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.68%. Omnicom Group’s dividend payout ratio (DPR) is 48.04%.

In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the business’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 in the company, valued at approximately $2,573,702. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. increased its stake in Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock worth $102,000 after buying an additional 255 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Omnicom Group during the first quarter valued at about $110,000. Trust Department MB Financial Bank N A boosted its position in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock valued at $123,000 after buying an additional 100 shares in the last quarter. City Holding Co. boosted its position in shares of Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock valued at $158,000 after buying an additional 922 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in shares of Omnicom Group during the first quarter valued at about $166,000. Institutional investors own 97.04% of the company’s stock.

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