Omnicom Group (NYSE:OMC) Price Target Raised to $91.00 at JPMorgan Chase & Co.

Omnicom Group (NYSE:OMCGet Rating) had its price target raised by JPMorgan Chase & Co. from $88.00 to $91.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the business services provider’s stock.

A number of other brokerages have also recently commented on OMC. Barclays raised their price objective on shares of Omnicom Group to $80.00 in a research note on Thursday, October 27th. Morgan Stanley raised their price objective on shares of Omnicom Group from $67.00 to $75.00 and gave the stock an underweight rating in a research note on Monday, December 19th. Finally, StockNews.com started coverage on shares of Omnicom Group in a research note on Wednesday, October 12th. They set a hold rating on the stock. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $86.00.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $84.54 on Monday. Omnicom Group has a twelve month low of $61.31 and a twelve month high of $91.61. The company’s 50 day moving average is $80.24 and its 200 day moving average is $72.76. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 1.68. The company has a market cap of $17.24 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 4.67 and a beta of 0.84.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Stockholders of record on Wednesday, December 21st were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.31%. Omnicom Group’s dividend payout ratio (DPR) is 44.94%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kentucky Retirement Systems lifted its holdings in Omnicom Group by 14.6% in the 2nd quarter. Kentucky Retirement Systems now owns 15,269 shares of the business services provider’s stock valued at $971,000 after purchasing an additional 1,948 shares in the last quarter. Duality Advisers LP lifted its holdings in Omnicom Group by 526.7% in the 2nd quarter. Duality Advisers LP now owns 32,909 shares of the business services provider’s stock valued at $2,093,000 after purchasing an additional 27,658 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in Omnicom Group in the 3rd quarter valued at $224,000. Assenagon Asset Management S.A. purchased a new position in Omnicom Group in the 2nd quarter valued at $1,118,000. Finally, Cetera Advisor Networks LLC lifted its holdings in Omnicom Group by 15.6% in the 2nd quarter. Cetera Advisor Networks LLC now owns 20,680 shares of the business services provider’s stock valued at $1,315,000 after purchasing an additional 2,798 shares in the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Omnicom Group Company Profile

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Omnicom Group, Inc is a holding company, which engages in the provision of advertising, marketing and corporate communications services. Its agency networks operate in the advertising, marketing, and corporate communications services industry, which are organized into regions, which are the Americas, EMEA and Asia-Pacific.

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