Omnicom Group Inc. (NYSE:OMC) Shares Acquired by abrdn plc

abrdn plc grew its stake in Omnicom Group Inc. (NYSE:OMC) by 35.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,285 shares of the business services provider’s stock after acquiring an additional 21,843 shares during the quarter. abrdn plc’s holdings in Omnicom Group were worth $7,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OMC. Lazard Asset Management LLC increased its stake in shares of Omnicom Group by 98.3% in the 3rd quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock worth $225,842,000 after acquiring an additional 1,503,249 shares during the last quarter. Boston Partners increased its stake in shares of Omnicom Group by 21.7% in the 3rd quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock worth $277,726,000 after acquiring an additional 664,800 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Omnicom Group by 8.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider’s stock worth $353,437,000 after purchasing an additional 374,874 shares during the last quarter. Northern Trust Corp increased its position in shares of Omnicom Group by 13.2% during 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 during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Omnicom Group during the 4th quarter worth about $21,936,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on OMC shares. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $91.00 to $106.00 in a research report on Wednesday, April 17th. Barclays raised their price objective on Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Moffett Nathanson raised their price objective on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Macquarie raised their price objective on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Insider Activity

In related news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $95.89 on Friday. The stock has a 50-day simple moving average of $92.40 and a 200-day simple moving average of $86.07. 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 stock has a market capitalization of $18.78 billion, a PE ratio of 12.96, a PEG ratio of 2.25 and a beta of 0.97. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $99.23.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share (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 business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. On average, analysts predict that Omnicom Group Inc. will post 7.81 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s payout ratio is presently 37.84%.

Omnicom Group 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.