Omnicom Group (NYSE:OMC) Price Target Increased to $118.00 by Analysts at JPMorgan Chase & Co.

Omnicom Group (NYSE:OMC) had its price target boosted by JPMorgan Chase & Co. from $106.00 to $118.00 in a research report released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Macquarie restated an outperform rating and set a $110.00 price objective on shares of Omnicom Group in a report on Wednesday, July 17th. Bank of America boosted their price target on Omnicom Group from $87.00 to $89.00 and gave the company an underperform rating in a research note on Thursday, September 5th. Finally, UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $107.30.

Omnicom Group Stock Down 0.7 %

OMC opened at $102.69 on Tuesday. The stock’s fifty day simple moving average is $97.90 and its 200 day simple moving average is $94.52. Omnicom Group has a 1-year low of $72.20 and a 1-year high of $104.80. The stock has a market cap of $20.11 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. Omnicom Group’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. As a group, research analysts expect that Omnicom Group will post 7.88 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. Omnicom Group’s payout ratio is 37.84%.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

A number of hedge funds have recently made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new position in Omnicom Group during the 4th quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Omnicom Group in the 2nd quarter valued at $33,000. Innealta Capital LLC acquired a new stake in shares of Omnicom Group during the 2nd quarter valued at $33,000. Davis Capital Management bought a new stake in Omnicom Group during the 3rd quarter worth $36,000. Finally, Northwest Investment Counselors LLC acquired a new position in Omnicom Group in the 1st quarter worth about $50,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

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.