Trust Asset Management LLC Purchases Shares of 2,342 Omnicom Group Inc. (NYSE:OMC)

Trust Asset Management LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,342 shares of the business services provider’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Greenleaf Trust boosted its position in Omnicom Group by 0.5% in the 4th quarter. Greenleaf Trust now owns 22,329 shares of the business services provider’s stock valued at $1,932,000 after buying an additional 119 shares during the period. Cambridge Trust Co. boosted its position in Omnicom Group by 4.2% in the 4th quarter. Cambridge Trust Co. now owns 2,981 shares of the business services provider’s stock valued at $258,000 after buying an additional 121 shares during the period. Pinnacle Bancorp Inc. boosted its position in Omnicom Group by 61.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. Czech National Bank boosted its position in Omnicom Group by 0.4% in the 4th quarter. Czech National Bank now owns 34,666 shares of the business services provider’s stock valued at $2,999,000 after buying an additional 134 shares during the period. Finally, Federated Hermes Inc. boosted its position in Omnicom Group by 0.4% in the 4th quarter. Federated Hermes Inc. now owns 34,676 shares of the business services provider’s stock valued at $3,000,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

OMC traded up $0.73 on Thursday, reaching $96.71. The company had a trading volume of 2,094,433 shares, compared to its average volume of 1,659,910. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $99.23. The stock has a market capitalization of $18.94 billion, a PE ratio of 13.07, a P/E/G ratio of 2.21 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $92.23 and a 200-day moving average price of $85.93.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the company earned $2.09 earnings per share. Omnicom Group’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.80 dividend on an annualized basis and a yield of 2.90%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Analyst Ratings Changes

Several equities analysts have commented on OMC shares. Barclays raised their price target on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. UBS Group initiated coverage on shares of Omnicom Group in a research report on Thursday, January 11th. They set a “buy” rating and a $117.00 price objective for the company. Macquarie lifted their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Moffett Nathanson lifted their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.40.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of Omnicom Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now directly owns 9,753 shares in the company, valued at $845,194.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

About Omnicom Group

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.