Omnicom Group (NYSE:OMC) Lowered to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Omnicom Group (NYSE:OMC - Free Report) from an overweight rating to an equal weight rating in a research note released on Wednesday morning, Marketbeat reports. The firm currently has $110.00 price target on the business services provider's stock, up from their prior price target of $106.00.

Several other brokerages have also recently weighed in on OMC. Macquarie reissued an "outperform" rating and issued a $110.00 price objective on shares of Omnicom Group in a research note on Wednesday, July 17th. UBS Group boosted their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Bank of America boosted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $106.00 to $118.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $109.20.

Omnicom Group Price Performance

Shares of NYSE:OMC traded up $1.47 during trading on Wednesday, hitting $105.49. 3,031,194 shares of the company were exchanged, compared to its average volume of 1,529,342. The business's 50 day moving average is $99.55 and its 200-day moving average is $95.07. The company has a market capitalization of $20.66 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. Omnicom Group has a 1-year low of $73.28 and a 1-year high of $105.93.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the business earned $1.86 earnings per share. Equities analysts forecast that Omnicom Group will post 7.88 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.65%. Omnicom Group's dividend payout ratio (DPR) is presently 37.84%.

Insider Transactions at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares of the company's stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares of the company's stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Linda Johnson Rice sold 488 shares of the company's stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Omnicom Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Davis Capital Management acquired a new stake in shares of Omnicom Group in the 3rd quarter worth about $36,000. Innealta Capital LLC acquired a new stake in shares of Omnicom Group in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group in the 2nd quarter worth about $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of Omnicom Group in the 1st quarter worth about $50,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Omnicom Group by 66.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider's stock worth $50,000 after acquiring an additional 224 shares during the last quarter. Institutional investors and hedge funds own 91.97% 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.