Omnicom Group (NYSE:OMC) Sees Strong Trading Volume

Omnicom Group Inc. (NYSE:OMC) saw strong trading volume on Thursday . 577,332 shares were traded during trading, a decline of 64% from the previous session’s volume of 1,613,612 shares.The stock last traded at $91.91 and had previously closed at $90.75.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Thursday, March 28th. Moffett Nathanson upped their price target on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Macquarie reiterated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $100.00 to $110.00 in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.70.

Omnicom Group Stock Up 2.9 %

The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The business has a 50 day simple moving average of $91.46 and a 200-day simple moving average of $91.46. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 2.18 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. Omnicom Group’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $1.81 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, September 20th. Omnicom Group’s payout ratio is presently 37.84%.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Omnicom Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Family Firm Inc. acquired a new position in Omnicom Group in the second quarter valued at about $70,000. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Omnicom Group by 4.6% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 173,142 shares of the business services provider’s stock worth $15,531,000 after acquiring an additional 7,581 shares during the last quarter. Mcrae Capital Management Inc. boosted its position in shares of Omnicom Group by 0.6% during the 2nd quarter. Mcrae Capital Management Inc. now owns 202,359 shares of the business services provider’s stock worth $18,152,000 after purchasing an additional 1,223 shares during the period. DT Investment Partners LLC increased its holdings in Omnicom Group by 54.8% in the 2nd quarter. DT Investment Partners LLC now owns 1,848 shares of the business services provider’s stock valued at $166,000 after purchasing an additional 654 shares during the last quarter. Finally, &PARTNERS raised its position in Omnicom Group by 44.9% in the second quarter. &PARTNERS now owns 7,587 shares of the business services provider’s stock valued at $681,000 after purchasing an additional 2,351 shares during the period. 91.97% of the stock is 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.