Bank of Nova Scotia Boosts Stake in Omnicom Group Inc. (NYSE:OMC)

Bank of Nova Scotia boosted its stake in Omnicom Group Inc. (NYSE:OMCFree Report) by 24.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,680 shares of the business services provider’s stock after purchasing an additional 4,630 shares during the period. Bank of Nova Scotia’s holdings in Omnicom Group were worth $2,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. lifted its position in shares of Omnicom Group by 1.0% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock worth $363,148,000 after purchasing an additional 42,075 shares in the last quarter. Lazard Asset Management LLC increased its stake in Omnicom Group by 98.3% during the 3rd quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock worth $225,842,000 after buying an additional 1,503,249 shares during the period. Northern Trust Corp lifted its holdings in Omnicom Group by 13.2% during the 3rd quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider’s stock worth $192,976,000 after buying an additional 301,927 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Omnicom Group by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,855,879 shares of the business services provider’s stock valued at $160,557,000 after buying an additional 78,215 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Omnicom Group by 16.6% in the third quarter. American Century Companies Inc. now owns 1,660,735 shares of the business services provider’s stock worth $123,692,000 after acquiring an additional 236,927 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.4 %

NYSE OMC opened at $90.94 on Friday. The firm’s fifty day moving average price is $93.88 and its 200 day moving average price is $89.77. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 2.12 and a beta of 0.96.

Omnicom Group (NYSE:OMCGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.15. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.58 billion. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.84 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 10th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Insider Activity

In other news, Director Linda Johnson Rice sold 453 shares of Omnicom Group stock in a transaction on 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 of the company’s stock, valued at approximately $911,044.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OMC shares. Moffett Nathanson lifted their target price on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Macquarie lifted their price objective on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. upped their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $100.00 to $110.00 in a research note on Tuesday, May 7th. Finally, Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $91.00 to $106.00 in a research report on Wednesday, April 17th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $104.40.

Get Our Latest Stock Analysis on OMC

Omnicom Group Profile

(Free Report)

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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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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