Citizens Financial Group Inc. RI Boosts Holdings in Omnicom Group Inc. (NYSE:OMC)

Citizens Financial Group Inc. RI boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,846 shares of the business services provider’s stock after acquiring an additional 136 shares during the period. Citizens Financial Group Inc. RI’s holdings in Omnicom Group were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OMC. Beutel Goodman & Co Ltd. raised its holdings 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 during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Omnicom Group by 6.3% during the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after purchasing an additional 165,136 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Omnicom Group by 7.7% during the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock worth $224,832,000 after purchasing an additional 186,562 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Omnicom Group by 1.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,370,253 shares of the business services provider’s stock worth $205,051,000 after purchasing an additional 43,861 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Omnicom Group by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,855,879 shares of the business services provider’s stock worth $160,557,000 after purchasing an additional 78,215 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. UBS Group raised their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. StockNews.com upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target 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 hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.70.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Omnicom Group Stock Performance

NYSE:OMC opened at $92.00 on Friday. The company’s 50-day moving average price is $91.43 and its 200-day moving average price is $91.77. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The company has a market cap of $18.00 billion, a P/E ratio of 12.43, a P/E/G ratio of 2.24 and a beta of 0.95. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $98.71.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.81 earnings per share. On average, sell-side analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Omnicom Group Company 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.