Mackenzie Financial Corp Has $3.68 Million Stock Position in Omnicom Group Inc. (NYSE:OMC)

Mackenzie Financial Corp boosted its position in Omnicom Group Inc. (NYSE:OMC) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 42,529 shares of the business services provider’s stock after purchasing an additional 2,537 shares during the period. Mackenzie Financial Corp’s holdings in Omnicom Group were worth $3,679,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in Omnicom Group in the 3rd quarter valued at about $25,000. Pinnacle Bancorp Inc. increased its holdings in shares of 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 period. KB Financial Partners LLC increased its holdings in shares of Omnicom Group by 1,326.1% during the second quarter. KB Financial Partners LLC now owns 328 shares of the business services provider’s stock worth $31,000 after purchasing an additional 305 shares during the period. Carolinas Wealth Consulting LLC increased its holdings in shares of Omnicom Group by 1,805.9% during the first quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock worth $31,000 after purchasing an additional 307 shares during the period. Finally, Ronald Blue Trust Inc. increased its holdings in shares of Omnicom Group by 64.4% during the third quarter. Ronald Blue Trust Inc. now owns 508 shares of the business services provider’s stock worth $38,000 after purchasing an additional 199 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OMC shares. Barclays raised their target price on shares of Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Thursday, March 28th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $91.00 to $106.00 in a research report on Wednesday, April 17th. Moffett Nathanson increased 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. Finally, StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.40.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $92.62 on Monday. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.86. The firm has a market capitalization of $18.14 billion, a P/E ratio of 12.52, a P/E/G ratio of 2.17 and a beta of 0.97. The company’s 50 day moving average price is $91.51 and its two-hundred day moving average price is $85.49.

Omnicom Group (NYSE:OMC) last issued its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates 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, equities analysts forecast that Omnicom Group Inc. will post 7.81 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be given 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 currently 37.84%.

Insider Buying and Selling at Omnicom Group

In other 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 transaction of $43,936.62. Following the transaction, the director now owns 9,753 shares in the company, valued at $845,194.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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.