Artemis Investment Management LLP bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) during the fourth quarter, HoldingsChannel reports. The fund bought 15,959 shares of the business services provider’s stock, valued at approximately $1,373,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Steigerwald Gordon & Koch Inc. raised its stake in shares of Omnicom Group by 0.8% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 162,092 shares of the business services provider’s stock valued at $13,946,000 after acquiring an additional 1,246 shares during the period. HF Advisory Group LLC boosted its stake in shares of Omnicom Group by 5.8% during the 4th quarter. HF Advisory Group LLC now owns 3,874 shares of the business services provider’s stock valued at $333,000 after buying an additional 214 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Omnicom Group by 25.1% in the 4th quarter. HB Wealth Management LLC now owns 5,286 shares of the business services provider’s stock worth $455,000 after purchasing an additional 1,062 shares during the last quarter. Trust Co. of Vermont raised its stake in Omnicom Group by 742.4% during the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after buying an additional 490 shares in the last quarter. Finally, Verity & Verity LLC acquired a new stake in shares of Omnicom Group during the 4th quarter valued at approximately $477,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Analysts Set New Price Targets
OMC has been the subject of several analyst reports. Macquarie reissued an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. UBS Group lifted their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays increased their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company decreased their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.
Omnicom Group Stock Performance
Shares of Omnicom Group stock opened at $85.41 on Monday. The firm has a 50 day simple moving average of $93.30 and a 200 day simple moving average of $96.57. Omnicom Group Inc. has a fifty-two week low of $81.42 and a fifty-two week high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market cap of $16.66 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.73 and a beta of 0.98.
Omnicom Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 38.25%.
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.
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