Franklin Resources Inc. Boosts Position in Omnicom Group Inc. (NYSE:OMC)

Franklin Resources Inc. raised its position in Omnicom Group Inc. (NYSE:OMC) by 19.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 231,068 shares of the business services provider’s stock after purchasing an additional 38,022 shares during the period. Franklin Resources Inc.’s holdings in Omnicom Group were worth $23,860,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the 3rd quarter worth about $33,000. Davis Capital Management acquired a new position in Omnicom Group during the third quarter worth about $36,000. Innealta Capital LLC purchased a new stake in shares of Omnicom Group in the second quarter valued at about $33,000. HM Payson & Co. grew its position in shares of Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 169 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Omnicom Group during the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OMC shares. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. Bank of America upped their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays upped their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lowered their price target on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Omnicom Group Stock Up 0.2 %

OMC opened at $87.89 on Friday. Omnicom Group Inc. has a 12 month low of $84.43 and a 12 month high of $107.00. The business has a 50-day moving average of $100.56 and a two-hundred day moving average of $97.12. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the company earned $1.86 earnings per share. On average, research analysts expect that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Omnicom Group 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.