Journey Strategic Wealth LLC Makes New Investment in Omnicom Group Inc. (NYSE:OMC)

Key Points

• Journey Strategic Wealth LLC has acquired 4,638 shares of Omnicom Group Inc. valued at approximately $385,000 during the 1st quarter, adding to the list of large investors acquiring shares in the company.
• Omnicom Group has recently announced a quarterly dividend of $0.70 per share, representing an annual yield of 3.66%, with the ex-dividend date set for September 2nd.
• Despite analysts' mixed ratings and price targets for the stock, Omnicom Group has a consensus rating of "Moderate Buy" with a price target of $94.43.

Journey Strategic Wealth LLC purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,638 shares of the business services provider's stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in OMC. Johnson Financial Group Inc. boosted its position in Omnicom Group by 153.8% during the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after acquiring an additional 143 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after acquiring an additional 404 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after acquiring an additional 343 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Omnicom Group in the first quarter worth about $47,000. Institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

OMC stock traded down $0.65 during trading on Friday, hitting $76.41. 2,112,530 shares of the company traded hands, compared to its average volume of 4,663,703. The stock's 50-day simple moving average is $72.72 and its 200 day simple moving average is $77.64. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market cap of $14.80 billion, a PE ratio of 10.96, a P/E/G ratio of 1.52 and a beta of 0.92. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The business's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is presently 40.17%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OMC shares. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a report on Monday, June 23rd. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Citigroup restated a "buy" rating and issued a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $94.43.

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.