BTIM Corp. raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,059 shares of the business services provider’s stock after purchasing an additional 25,175 shares during the period. BTIM Corp. owned approximately 0.30% of Omnicom Group worth $48,907,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. NuWave Investment Management LLC raised its position in Omnicom Group by 1,876.5% during the fourth quarter. NuWave Investment Management LLC now owns 336 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 319 shares in the last quarter. Sontag Advisory LLC acquired a new position in shares of Omnicom Group during the fourth quarter worth $28,000. Eukles Asset Management acquired a new position in shares of Omnicom Group during the fourth quarter worth $29,000. Capital Financial Planning LLC acquired a new position in shares of Omnicom Group during the fourth quarter worth $30,000. Finally, JOYN Advisors Inc. increased its holdings in shares of Omnicom Group by 47.2% during the fourth quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter.
Shares of Omnicom Group stock traded up $4.35 during trading on Tuesday, hitting $81.25. The company’s stock had a trading volume of 6,328,808 shares, compared to its average volume of 1,959,421. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.41. Omnicom Group Inc. has a 52 week low of $65.85 and a 52 week high of $82.32. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.77 and a beta of 0.68.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Monday, March 11th were paid a $0.65 dividend. This is a boost from Omnicom Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.60 annualized dividend and a dividend yield of 3.20%. Omnicom Group’s payout ratio is currently 45.22%.
Several brokerages have recently issued reports on OMC. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Monday, December 17th. Citigroup upped their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. BMO Capital Markets lowered their price target on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. Finally, Macquarie set a $76.00 price target on shares of Omnicom Group and gave the stock a “hold” rating in a report on Thursday, February 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Omnicom Group presently has an average rating of “Hold” and an average price target of $75.60.
In other Omnicom Group news, Director Leonard S. Coleman, Jr. sold 2,556 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $75.25, for a total transaction of $192,339.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linda Johnson Rice sold 495 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $74.79, for a total transaction of $37,021.05. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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