Truist Financial Corp Grows Position in Omnicom Group Inc. (NYSE:OMC)

Truist Financial Corp boosted its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 463,497 shares of the business services provider's stock after acquiring an additional 21,018 shares during the quarter. Truist Financial Corp owned 0.23% of Omnicom Group worth $40,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OMC. Lazard Asset Management LLC raised its holdings in 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 valued at $225,842,000 after acquiring an additional 1,503,249 shares during the period. Boston Partners boosted its stake in Omnicom Group by 21.7% in the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider's stock valued at $277,726,000 after acquiring an additional 664,800 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Omnicom Group by 8.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider's stock worth $353,437,000 after acquiring an additional 374,874 shares in the last quarter. Northern Trust Corp boosted its stake in Omnicom Group by 13.2% in the 3rd quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider's stock worth $192,976,000 after purchasing an additional 301,927 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Omnicom Group in the 4th quarter worth approximately $21,936,000. Institutional investors own 91.97% of the company's stock.

Omnicom Group Price Performance

Shares of NYSE:OMC remained flat at $95.89 during trading on Monday. 1,702,588 shares of the stock traded hands, compared to its average volume of 1,661,202. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93. The business's 50-day simple moving average is $92.57 and its two-hundred day simple moving average is $86.37. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The stock has a market capitalization of $18.78 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 2.25 and a beta of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.16 by $0.04. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The firm's revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $2.09 earnings per share. On average, equities research analysts predict that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 8th. This represents a $2.80 dividend on an annualized basis and a yield of 2.92%. Omnicom Group's payout ratio is 37.84%.

Insiders Place Their Bets

In related 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 sale, the director now owns 9,753 shares of the company's stock, valued at approximately $845,194.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OMC has been the subject of a number of research analyst reports. StockNews.com raised shares of Omnicom Group from a "hold" rating to a "buy" rating in a report on Thursday, April 18th. Moffett Nathanson increased their price objective on Omnicom Group from $89.00 to $93.00 and gave the company a "neutral" rating in a report on Wednesday, April 17th. BNP Paribas raised Omnicom Group from a "neutral" rating to an "outperform" rating and set a $115.00 target price for the company in a report on Thursday, March 28th. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $91.00 to $106.00 in a research report on Wednesday, April 17th. Finally, UBS Group began coverage on shares of Omnicom Group in a research report on Thursday, January 11th. They set a "buy" rating and a $117.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned 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 a consensus target price of $103.40.

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.