Van ECK Associates Corp grew its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 56.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 67,551 shares of the business services provider's stock after acquiring an additional 24,250 shares during the quarter. Van ECK Associates Corp's holdings in Omnicom Group were worth $5,844,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Chase Investment Counsel Corp grew its stake in Omnicom Group by 7.2% during the 4th quarter. Chase Investment Counsel Corp now owns 14,984 shares of the business services provider's stock worth $1,296,000 after buying an additional 1,000 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Omnicom Group during the 4th quarter worth approximately $26,000. Unique Wealth Strategies LLC purchased a new position in Omnicom Group during the 4th quarter worth approximately $540,000. Alexander Randolph Advisory Inc. purchased a new position in Omnicom Group during the 4th quarter worth approximately $2,361,000. Finally, Delta Investment Management LLC grew its stake in Omnicom Group by 6.9% during the 4th quarter. Delta Investment Management LLC now owns 6,257 shares of the business services provider's stock worth $541,000 after buying an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.
Analysts Set New Price Targets
OMC has been the topic of several analyst reports. UBS Group initiated coverage on Omnicom Group in a research note on Thursday, January 11th. They issued a "buy" rating and a $117.00 target price on the stock. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $91.00 to $106.00 in a research note on Wednesday, April 17th. Barclays lifted 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. JPMorgan Chase & Co. lifted their target price on Omnicom Group from $104.00 to $108.00 and gave the company an "overweight" rating in a research note on Wednesday, April 17th. Finally, Moffett Nathanson lifted their target price on Omnicom Group from $89.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.40.
Read Our Latest Stock Analysis on OMC
Omnicom Group Price Performance
Shares of OMC traded up $0.12 during mid-day trading on Friday, hitting $92.75. The company's stock had a trading volume of 1,436,571 shares, compared to its average volume of 1,716,013. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The firm has a 50-day simple moving average of $92.93 and a 200 day simple moving average of $86.86. The firm has a market capitalization of $18.16 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.18 and a beta of 0.96. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $99.23.
Omnicom Group (NYSE:OMC - Get Free Report) last posted 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 business had revenue of $4.06 billion during the quarter, compared to analysts' expectations of $4 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $2.09 EPS. Analysts predict that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.
Omnicom Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, March 8th. This represents a $2.80 annualized dividend and a yield of 3.02%. Omnicom Group's dividend payout ratio is presently 37.84%.
Insider Buying and Selling
In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the firm's stock in a transaction on 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 transaction, the director now owns 9,753 shares of the company's stock, valued at $845,194.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.
Omnicom Group Profile
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Free Report)
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.
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