JPMorgan Chase & Co. Boosts Omnicom Group (NYSE:OMC) Price Target to $108.00

Omnicom Group (NYSE:OMC) had its price objective boosted by JPMorgan Chase & Co. from $104.00 to $108.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

OMC has been the topic of several other reports. Barclays lifted their price target on shares of Omnicom Group from $95.00 to $100.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. UBS Group started coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They set a buy rating and a $117.00 price target on the stock. Wells Fargo & Company upgraded shares of Omnicom Group from an equal weight rating to an overweight rating and lifted their price target for the stock from $91.00 to $106.00 in a research note on Wednesday. BNP Paribas upgraded shares of Omnicom Group from a neutral rating to an outperform rating and set a $115.00 price target on the stock in a research note on Thursday, March 28th. Finally, Macquarie lifted their price target on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an outperform rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $103.40.

Omnicom Group Price Performance

Omnicom Group stock opened at $92.62 on Wednesday. The stock has a market cap of $18.26 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. The company has a fifty day simple moving average of $91.51 and a 200-day simple moving average of $85.32. Omnicom Group has a 12-month low of $72.20 and a 12-month high of $99.23. The company has a current ratio of 0.95, a quick ratio of 0.86 and a debt-to-equity ratio of 1.16.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.83%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 EPS. Equities analysts expect that Omnicom Group will post 7.73 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of Omnicom Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now directly owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OMC. First Trust Advisors LP increased its stake in shares of Omnicom Group by 683.2% during the first quarter. First Trust Advisors LP now owns 2,957,307 shares of the business services provider’s stock worth $251,016,000 after acquiring an additional 2,579,717 shares during the period. Lazard Asset Management LLC increased its stake in shares of Omnicom Group by 98.3% during the third quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock worth $225,842,000 after acquiring an additional 1,503,249 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Omnicom Group during the fourth quarter worth about $93,634,000. Price T Rowe Associates Inc. MD increased its stake in shares of Omnicom Group by 81.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,527,561 shares of the business services provider’s stock worth $144,111,000 after acquiring an additional 683,810 shares during the period. Finally, Boston Partners increased its stake in shares of Omnicom Group by 21.7% during the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock worth $277,726,000 after acquiring an additional 664,800 shares during the period. 91.97% of the stock is currently 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.