Omnicom Group (NYSE:OMC) Upgraded to Overweight by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Omnicom Group (NYSE:OMC) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has $106.00 price target on the business services provider’s stock, up from their prior price target of $91.00.

OMC has been the topic of several other reports. Macquarie raised their price target on Omnicom Group from $100.00 to $110.00 and gave the company an outperform rating in a research report on Tuesday, April 2nd. BNP Paribas raised Omnicom Group from a neutral rating to an outperform rating and set a $115.00 target price on the stock in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their target price on Omnicom Group from $106.00 to $104.00 and set an overweight rating on the stock in a research report on Wednesday, February 7th. Barclays lifted their target price 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. Finally, StockNews.com raised Omnicom Group from a hold rating to a buy rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $104.56.

Omnicom Group Price Performance

NYSE OMC opened at $92.45 on Wednesday. The firm has a market cap of $18.23 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. The stock’s 50-day moving average is $91.25 and its two-hundred day moving average is $85.14. Omnicom Group has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.95 and a quick ratio of 0.86.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.15. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.58 billion. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. On average, analysts anticipate that Omnicom Group will post 7.73 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, March 8th. Omnicom Group’s payout ratio is 40.46%.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 507 shares of Omnicom Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the completion of the transaction, the director now owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Aviva PLC raised its stake in shares of Omnicom Group by 406.1% in the third quarter. Aviva PLC now owns 126,306 shares of the business services provider’s stock valued at $9,407,000 after acquiring an additional 101,348 shares during the last quarter. NBC Securities Inc. bought a new position in Omnicom Group in the 3rd quarter worth approximately $200,000. Raymond James & Associates raised its position in Omnicom Group by 3.3% in the 4th quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock worth $37,471,000 after purchasing an additional 13,709 shares during the last quarter. Arvest Investments Inc. bought a new position in Omnicom Group in the 4th quarter worth approximately $1,969,000. Finally, Sequoia Financial Advisors LLC raised its position in Omnicom Group by 1,627.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock worth $5,752,000 after purchasing an additional 62,640 shares during the last quarter. Institutional investors 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.