Royal Bank of Canada Buys 19,101 Shares of Omnicom Group Inc. (NYSE:OMC)

Royal Bank of Canada lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 4.7% during the 4th quarter, HoldingsChannel reports. The firm owned 429,393 shares of the business services provider’s stock after acquiring an additional 19,101 shares during the period. Royal Bank of Canada’s holdings in Omnicom Group were worth $36,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in Omnicom Group by 50.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock worth $513,922,000 after acquiring an additional 1,992,695 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Omnicom Group during the 4th quarter worth approximately $150,819,000. FMR LLC grew its holdings in Omnicom Group by 250.1% during the 4th quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock worth $172,987,000 after acquiring an additional 1,436,231 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Omnicom Group by 91.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock worth $184,730,000 after acquiring an additional 1,027,567 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Omnicom Group during the 4th quarter worth approximately $79,321,000. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Down 0.6%

Shares of NYSE OMC opened at $73.06 on Friday. The company has a market capitalization of $14.25 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. Omnicom Group Inc. has a 52-week low of $69.13 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The company’s 50 day moving average price is $76.36 and its 200-day moving average price is $85.07.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.73 billion. Equities analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.83%. Omnicom Group’s payout ratio is presently 38.30%.

Analyst Ratings Changes

A number of research firms have weighed in on OMC. UBS Group reduced their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Citigroup reissued a “buy” rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Barclays dropped their price target on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their price target on shares of Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.29.

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.