921,909 Shares in Omnicom Group Inc. (NYSE:OMC) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 921,909 shares of the business services provider’s stock, valued at approximately $79,321,000. Raymond James Financial Inc. owned about 0.47% of Omnicom Group at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OMC. Summit Trail Advisors LLC increased its stake in shares of Omnicom Group by 1.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,561 shares of the business services provider’s stock valued at $683,000 after acquiring an additional 113 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Omnicom Group by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 6,302 shares of the business services provider’s stock valued at $652,000 after acquiring an additional 120 shares during the last quarter. Sompo Asset Management Co. Ltd. grew its holdings in shares of Omnicom Group by 3.5% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 3,870 shares of the business services provider’s stock worth $400,000 after purchasing an additional 130 shares during the period. Center For Asset Management LLC grew its holdings in shares of Omnicom Group by 3.3% during the 4th quarter. Center For Asset Management LLC now owns 4,523 shares of the business services provider’s stock worth $389,000 after purchasing an additional 146 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Omnicom Group by 13.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock worth $105,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

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

Omnicom Group Stock Performance

Omnicom Group stock opened at $84.90 on Monday. The stock has a market cap of $16.68 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $84.42 and a 200-day moving average of $94.33. Omnicom Group Inc. has a 52 week low of $79.57 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $2.20 earnings per share. On average, analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.58%.

Omnicom Group 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.