Franklin Resources Inc. Buys 38,022 Shares of Omnicom Group Inc. (NYSE:OMC)

Franklin Resources Inc. grew its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 19.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,068 shares of the business services provider's stock after buying an additional 38,022 shares during the period. Franklin Resources Inc. owned 0.12% of Omnicom Group worth $23,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group in the third quarter worth about $33,000. Davis Capital Management bought a new stake in shares of Omnicom Group in the 3rd quarter worth approximately $36,000. HM Payson & Co. raised its holdings in shares of Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider's stock valued at $38,000 after acquiring an additional 169 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its position in Omnicom Group by 66.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider's stock valued at $50,000 after purchasing an additional 224 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

OMC traded up $0.97 during trading hours on Friday, hitting $88.86. The company's stock had a trading volume of 6,003,338 shares, compared to its average volume of 1,649,181. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 2.07 and a beta of 0.94. The business's 50-day moving average price is $100.56 and its 200-day moving average price is $97.12. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 12 month low of $84.43 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm earned $1.86 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, December 20th. Omnicom Group's dividend payout ratio is currently 38.25%.

Analyst Ratings Changes

A number of brokerages have recently commented on OMC. Bank of America boosted their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research report on Thursday, September 5th. Wells Fargo & Company cut their target price on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 10th. Macquarie reiterated an "outperform" rating and set a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Finally, Barclays upped their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

Insider Transactions at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.