Pennsylvania Trust Co increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 59.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,058 shares of the business services provider’s stock after buying an additional 32,882 shares during the quarter. Pennsylvania Trust Co’s holdings in Omnicom Group were worth $7,647,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OMC. Segall Bryant & Hamill LLC lifted its holdings in shares of Omnicom Group by 0.4% in the 4th quarter. Segall Bryant & Hamill LLC now owns 40,068 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 141 shares during the last quarter. JOYN Advisors Inc. lifted its holdings in shares of Omnicom Group by 47.2% in the 4th quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Archford Capital Strategies LLC lifted its holdings in shares of Omnicom Group by 16.4% in the 4th quarter. Archford Capital Strategies LLC now owns 1,202 shares of the business services provider’s stock worth $88,000 after purchasing an additional 169 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of Omnicom Group by 2.2% in the 4th quarter. Wetherby Asset Management Inc. now owns 7,977 shares of the business services provider’s stock worth $584,000 after purchasing an additional 173 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Omnicom Group by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 9,934 shares of the business services provider’s stock worth $728,000 after purchasing an additional 175 shares during the last quarter.
Shares of OMC stock traded down $0.13 during mid-day trading on Thursday, hitting $79.30. 1,348,951 shares of the stock traded hands, compared to its average volume of 1,990,443. Omnicom Group Inc. has a twelve month low of $65.85 and a twelve month high of $84.35. The stock has a market cap of $17.50 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 2.86 and a beta of 0.71. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.79 and a current ratio of 0.88.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Monday, March 11th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.28%. This is a boost from Omnicom Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 8th. Omnicom Group’s payout ratio is presently 45.22%.
OMC has been the topic of several recent research reports. BMO Capital Markets cut their price target on Omnicom Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Macquarie set a $76.00 price target on Omnicom Group and gave the stock a “hold” rating in a report on Thursday, February 14th. Citigroup lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. Barclays raised Omnicom Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $76.00 to $84.00 in a research note on Wednesday, April 17th. Finally, Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $76.90.
In related news, Director Leonard S. Coleman, Jr. sold 2,556 shares of Omnicom Group stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $75.25, for a total value of $192,339.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 495 shares of Omnicom Group stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $74.79, for a total value of $37,021.05. The disclosure for this sale can be found here. Insiders sold a total of 12,864 shares of company stock worth $1,037,986 over the last 90 days. Insiders own 1.10% of the company’s stock.
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About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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