Norges Bank acquired a new stake in Omnicom Group Inc. (NYSE:OMC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 269,215 shares of the business services provider's stock, valued at approximately $23,163,000. Norges Bank owned approximately 0.14% of Omnicom Group at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in shares of Omnicom Group by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 8,522 shares of the business services provider's stock valued at $881,000 after purchasing an additional 900 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Omnicom Group by 4.4% during the third quarter. Janus Henderson Group PLC now owns 23,647 shares of the business services provider's stock worth $2,445,000 after buying an additional 1,000 shares during the period. IHT Wealth Management LLC purchased a new stake in Omnicom Group during the third quarter worth $252,000. Royal London Asset Management Ltd. boosted its position in Omnicom Group by 8.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 96,873 shares of the business services provider's stock valued at $10,016,000 after acquiring an additional 7,244 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Omnicom Group by 25.0% in the 3rd quarter. Quantinno Capital Management LP now owns 21,286 shares of the business services provider's stock valued at $2,201,000 after acquiring an additional 4,262 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on OMC shares. Argus cut Omnicom Group from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $119.00 to $116.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. UBS Group cut their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, Barclays lowered their price objective on Omnicom Group from $121.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Omnicom Group currently has a consensus rating of "Hold" and an average target price of $104.43.
Check Out Our Latest Stock Analysis on OMC
Omnicom Group Stock Performance
Shares of NYSE OMC traded up $1.58 during mid-day trading on Friday, hitting $75.56. The stock had a trading volume of 3,018,198 shares, compared to its average volume of 2,144,307. The firm has a market cap of $14.85 billion, a PE ratio of 10.14, a PEG ratio of 1.94 and a beta of 0.87. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The company has a 50 day moving average of $80.50 and a two-hundred day moving average of $90.38. Omnicom Group Inc. has a twelve month low of $69.13 and a twelve month high of $107.00.
Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same quarter in the prior year, the firm posted $2.20 EPS. Research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.
Omnicom Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.80 annualized dividend and a yield of 3.71%. Omnicom Group's dividend payout ratio (DPR) is presently 37.58%.
About Omnicom Group
(
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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