Omnicom Group (NYSE:OMC) Lifted 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 report sent to investors on Wednesday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has $106.00 target price on the business services provider’s stock, up from their previous target price of $91.00.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Omnicom Group from a hold rating to a buy rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $106.00 to $104.00 and set an overweight rating for the company in a research note on Wednesday, February 7th. UBS Group began coverage on shares of Omnicom Group in a research note on Thursday, January 11th. They set a buy rating and a $117.00 target price for the company. Barclays lifted their target price 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. Finally, 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 research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $104.56.

Omnicom Group Price Performance

OMC stock opened at $92.45 on Wednesday. The company has a fifty day moving average price of $91.25 and a 200-day moving average price of $85.14. The company has a market capitalization of $18.23 billion, a P/E ratio of 13.36, a PEG ratio of 2.17 and a beta of 0.97. Omnicom Group has a 52-week low of $72.20 and a 52-week high of $99.23. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.86 and a current ratio of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.15. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.58 billion. Omnicom Group had a net margin of 9.47% and a return on equity of 39.07%. As a group, equities analysts expect that Omnicom Group will post 7.73 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s dividend payout ratio is currently 40.46%.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OMC. OFI Invest Asset Management acquired a new position in shares of Omnicom Group during the third quarter valued at about $25,000. HHM Wealth Advisors LLC purchased a new position in Omnicom Group during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new position in Omnicom Group during the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. boosted its holdings in Omnicom Group by 61.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in Omnicom Group during the fourth quarter worth about $29,000. 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.