Raymond James Financial Inc. Purchases New Stake in Omnicom Group Inc. (NYSE:OMC)

Raymond James Financial Inc. purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 921,909 shares of the business services provider’s stock, valued at approximately $79,321,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new stake in shares of Omnicom Group during the 4th quarter valued at approximately $25,000. Versant Capital Management Inc raised its position in shares of Omnicom Group by 645.2% during the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 271 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Omnicom Group by 146.6% during the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 195 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Omnicom Group in the third quarter worth $55,000. Finally, Trust Co. of Vermont increased its position in Omnicom Group by 742.4% in the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock worth $48,000 after buying an additional 490 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Price Performance

Shares of OMC opened at $84.90 on Monday. The stock’s fifty day moving average is $84.42 and its 200-day moving average is $94.33. Omnicom Group Inc. has a one year low of $79.57 and a one year high of $107.00. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $2.20 earnings per share. Equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.30%. Omnicom Group’s payout ratio is presently 37.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OMC shares. Wells Fargo & Company dropped their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Barclays dropped their target price on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their target price on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

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.