GSB Wealth Management LLC grew its stake in Omnicom Group Inc. (NYSE:OMC – Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,794 shares of the business services provider’s stock after acquiring an additional 233 shares during the period. GSB Wealth Management LLC’s holdings in Omnicom Group were worth $830,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in OMC. First Trust Advisors LP boosted its stake in shares of Omnicom Group by 683.2% during the first quarter. First Trust Advisors LP now owns 2,957,307 shares of the business services provider’s stock valued at $251,016,000 after purchasing an additional 2,579,717 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Omnicom Group by 372.3% during the first quarter. Envestnet Asset Management Inc. now owns 3,218,693 shares of the business services provider’s stock valued at $66,038,000 after purchasing an additional 2,537,136 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Omnicom Group by 3,737.8% during the fourth quarter. American Century Companies Inc. now owns 1,975,361 shares of the business services provider’s stock valued at $161,130,000 after purchasing an additional 1,923,890 shares in the last quarter. Baird Financial Group Inc. lifted its position in Omnicom Group by 40.4% during the fourth quarter. Baird Financial Group Inc. now owns 2,851,104 shares of the business services provider’s stock valued at $232,565,000 after acquiring an additional 820,275 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Omnicom Group by 81.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,527,561 shares of the business services provider’s stock valued at $144,111,000 after acquiring an additional 683,810 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently commented on OMC shares. Bank of America increased their target price on shares of Omnicom Group from $79.00 to $84.00 and gave the company an “underperform” rating in a research report on Wednesday, July 19th. StockNews.com started coverage on shares of Omnicom Group in a research report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley reissued an “equal weight” rating and set a $100.00 target price on shares of Omnicom Group in a research report on Wednesday, July 19th. Finally, Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $109.00 to $88.00 in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus price target of $96.57.
Omnicom Group Trading Down 1.6 %
NYSE OMC opened at $77.77 on Thursday. The company has a fifty day simple moving average of $83.63 and a two-hundred day simple moving average of $89.06. The stock has a market cap of $15.37 billion, a P/E ratio of 11.45, a P/E/G ratio of 2.22 and a beta of 0.85. Omnicom Group Inc. has a 12-month low of $61.85 and a 12-month high of $99.23. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53.
Omnicom Group (NYSE:OMC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. Omnicom Group had a net margin of 9.66% and a return on equity of 41.29%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the company posted $1.68 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Omnicom Group Inc. will post 7.36 earnings per share for the current year.
Omnicom Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Thursday, September 21st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.60%. Omnicom Group’s dividend payout ratio (DPR) is presently 41.24%.
Insider Buying and Selling
In related news, Director Linda Johnson Rice sold 467 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $80.24, for a total transaction of $37,472.08. Following the completion of the transaction, the director now owns 9,591 shares of the company’s stock, valued at $769,581.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.
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 brand consulting, experiential, execution and support, public relations, and healthcare.
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