Strs Ohio Boosts Position in Omnicom Group Inc. (NYSE:OMC)

Posted by on Apr 13th, 2023

Strs Ohio boosted its position in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,232 shares of the business services provider’s stock after acquiring an additional 1,810 shares during the quarter. Strs Ohio’s holdings in Omnicom Group were worth $1,650,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. SkyOak Wealth LLC purchased a new stake in Omnicom Group during the fourth quarter valued at $210,000. Boenning & Scattergood Inc. bought a new stake in Omnicom Group during the fourth quarter valued at about $208,000. Cyndeo Wealth Partners LLC bought a new stake in Omnicom Group during the fourth quarter valued at about $361,000. MGO One Seven LLC grew its holdings in Omnicom Group by 3.5% during the fourth quarter. MGO One Seven LLC now owns 6,633 shares of the business services provider’s stock valued at $541,000 after purchasing an additional 225 shares during the period. Finally, Greenleaf Trust grew its holdings in Omnicom Group by 1.6% during the fourth quarter. Greenleaf Trust now owns 21,929 shares of the business services provider’s stock valued at $1,789,000 after purchasing an additional 339 shares during the period. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Omnicom Group Trading Up 0.0 %

Shares of NYSE OMC opened at $93.59 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.97. The business’s 50 day moving average price is $91.08 and its 200-day moving average price is $81.49. Omnicom Group Inc. has a fifty-two week low of $61.31 and a fifty-two week high of $96.52. The company has a market cap of $18.85 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 3.16 and a beta of 0.83.

Omnicom Group (NYSE:OMC – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.15. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.75 billion. Omnicom Group had a return on equity of 41.20% and a net margin of 9.21%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 earnings per share. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.18 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 6th. Investors of record on Friday, March 10th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. Omnicom Group’s dividend payout ratio (DPR) is 43.96%.

Analyst Upgrades and Downgrades

OMC has been the subject of several recent research reports. Morgan Stanley raised Omnicom Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $85.00 to $95.00 in a report on Wednesday, February 8th. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. BNP Paribas raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $96.00 price objective for the company in a research note on Wednesday, March 29th. Barclays upped their price objective on Omnicom Group from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. Finally, Wells Fargo & Company upped their price objective on Omnicom Group from $84.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $97.14.

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

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