Norden Group LLC Makes New Investment in Omnicom Group Inc. (NYSE:OMC)

Norden Group LLC bought a new position in Omnicom Group Inc. (NYSE:OMC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,224 shares of the business services provider’s stock, valued at approximately $1,860,000.

Several other hedge funds have also recently modified their holdings of OMC. HHM Wealth Advisors LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth $26,000. Frazier Financial Advisors LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth $26,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Omnicom Group by 61.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Omnicom Group in the fourth quarter worth $29,000. Finally, First United Bank & Trust purchased a new position in shares of Omnicom Group in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 453 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the transaction, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OMC. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Thursday, March 28th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $91.00 to $106.00 in a research note on Wednesday, April 17th. Finally, Macquarie upped their price target on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.40.

Omnicom Group Trading Up 0.2 %

Shares of OMC opened at $89.23 on Friday. The company’s fifty day simple moving average is $92.50 and its 200-day simple moving average is $90.90. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The company has a market cap of $17.47 billion, a P/E ratio of 12.06, a P/E/G ratio of 2.07 and a beta of 0.95. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $99.23.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.15. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. As a group, analysts expect that Omnicom Group Inc. will post 7.84 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Monday, June 10th. Omnicom Group’s payout ratio is presently 37.84%.

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.