Truist Financial Corp Purchases 21,018 Shares of Omnicom Group Inc. (NYSE:OMC)

Truist Financial Corp grew its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 463,497 shares of the business services provider’s stock after acquiring an additional 21,018 shares during the quarter. Truist Financial Corp owned about 0.23% of Omnicom Group worth $40,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Omnicom Group during the 3rd quarter valued at $25,000. Pinnacle Bancorp Inc. raised its holdings in Omnicom Group by 61.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. Authentikos Wealth Advisory LLC purchased a new stake in Omnicom Group during the 3rd quarter valued at $38,000. Massmutual Trust Co. FSB ADV raised its holdings in Omnicom Group by 116.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the business services provider’s stock valued at $52,000 after buying an additional 323 shares during the period. Finally, Blue Trust Inc. raised its holdings in Omnicom Group by 49.2% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the business services provider’s stock valued at $66,000 after buying an additional 250 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

OMC opened at $95.89 on Monday. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $99.23. The business’s fifty day simple moving average is $92.40 and its 200-day simple moving average is $86.23. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.25 and a beta of 0.97. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the company earned $2.09 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Omnicom Group Inc. will post 7.81 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. Investors of record on Monday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, March 8th. Omnicom Group’s payout ratio is currently 37.84%.

Analysts Set New Price Targets

Several analysts recently weighed in on OMC shares. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. UBS Group assumed coverage on Omnicom Group in a research note on Thursday, January 11th. They issued a “buy” rating and a $117.00 target price on the stock. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. increased their target price on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, BNP Paribas upgraded Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus target price of $103.40.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the sale, the director now owns 9,753 shares of the company’s stock, valued at $845,194.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

About Omnicom Group

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.