Omnicom Group (NYSE:OMC) Raised to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Omnicom Group (NYSE:OMC) from an equal weight rating to an overweight rating in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $106.00 price target on the business services provider’s stock, up from their previous price target of $91.00.

OMC has been the subject of several other research reports. Barclays raised their target price on Omnicom Group from $95.00 to $100.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Macquarie raised their target price on Omnicom Group from $100.00 to $110.00 and gave the company an outperform rating in a research note on Tuesday, April 2nd. UBS Group began coverage on Omnicom Group in a research report on Thursday, January 11th. They issued a buy rating and a $117.00 price target for the company. BNP Paribas upgraded Omnicom Group from a neutral rating to an outperform rating and set a $115.00 price target for the company in a research report on Thursday, March 28th. Finally, StockNews.com upgraded Omnicom Group from a hold rating to a buy rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $103.40.

Omnicom Group Trading Up 1.2 %

Shares of OMC stock opened at $92.62 on Wednesday. The stock has a 50-day simple moving average of $91.51 and a 200 day simple moving average of $85.32. Omnicom Group has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The stock has a market capitalization of $18.26 billion, a P/E ratio of 12.52, a P/E/G ratio of 2.21 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 1.16.

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

Omnicom Group Announces Dividend

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

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the sale, the director now directly owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pathstone Family Office LLC raised its stake in shares of Omnicom Group by 0.8% during the 4th quarter. Pathstone Family Office LLC now owns 13,144 shares of the business services provider’s stock worth $1,084,000 after purchasing an additional 108 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Omnicom Group by 0.5% during the 4th quarter. Greenleaf Trust now owns 22,329 shares of the business services provider’s stock valued at $1,932,000 after acquiring an additional 119 shares during the last quarter. Cambridge Trust Co. increased its holdings in shares of Omnicom Group by 4.2% during the 4th quarter. Cambridge Trust Co. now owns 2,981 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 121 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Omnicom Group by 2.6% during the 4th quarter. Great Valley Advisor Group Inc. now owns 4,955 shares of the business services provider’s stock valued at $428,000 after acquiring an additional 124 shares during the last quarter. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of Omnicom Group by 61.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Company Profile

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.