By otakuyassine3@gmail.com 
Franklin Resources Inc. lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 19.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,068 shares of the business services provider’s stock after buying an additional 38,022 shares during the quarter. Franklin Resources Inc. owned about 0.12% of Omnicom Group worth $23,860,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Resonant Capital Advisors LLC lifted its position in Omnicom Group by 1.7% in the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock valued at $613,000 after acquiring an additional 97 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Omnicom Group by 17.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 97 shares during the last quarter. Integrated Advisors Network LLC boosted its position in shares of Omnicom Group by 3.8% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider’s stock valued at $279,000 after purchasing an additional 100 shares during the period. Iowa State Bank grew its stake in Omnicom Group by 0.4% during the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock worth $2,528,000 after buying an additional 101 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Omnicom Group by 2.1% during the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider’s stock worth $514,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.
Insider Transactions at Omnicom Group
In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
Omnicom Group Trading Up 0.2 %
NYSE OMC opened at $87.89 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $17.15 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.07 and a beta of 0.94. Omnicom Group Inc. has a 52-week low of $84.43 and a 52-week high of $107.00. The firm has a 50-day moving average price of $100.56 and a 200 day moving average price of $97.12.
Omnicom Group (NYSE:OMC – Get Free Report) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the business posted $1.86 EPS. Equities research analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current year.
Omnicom Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Omnicom Group’s payout ratio is currently 38.25%.
Analyst Upgrades and Downgrades
OMC has been the subject of several research analyst reports. Macquarie reissued an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a report on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Bank of America upped their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. UBS Group raised their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays upped their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.00.
Get Our Latest Analysis on Omnicom Group
Omnicom Group Company 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.
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