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.
About Omnicom Group