AE Wealth Management LLC Raises Stock Position in Omnicom Group Inc. (NYSE:OMC)

AE Wealth Management LLC raised its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,003 shares of the business services provider's stock after purchasing an additional 26,190 shares during the period. AE Wealth Management LLC owned 0.12% of Omnicom Group worth $18,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMC. Merit Financial Group LLC increased its holdings in shares of Omnicom Group by 157.9% during the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after acquiring an additional 4,690 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after buying an additional 343 shares during the period. Fifth Third Bancorp lifted its position in shares of Omnicom Group by 13.9% during the 1st quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock worth $618,000 after buying an additional 913 shares during the period. Oppenheimer & Co. Inc. bought a new position in Omnicom Group in the 1st quarter valued at $1,357,000. Finally, Asset Management One Co. Ltd. raised its position in Omnicom Group by 10.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock valued at $6,755,000 after purchasing an additional 7,665 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Omnicom Group Stock Performance

Shares of NYSE:OMC traded down $0.65 during mid-day trading on Friday, reaching $76.41. The company had a trading volume of 2,112,530 shares, compared to its average volume of 4,663,703. The company's 50-day moving average price is $72.72 and its 200-day moving average price is $77.68. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.53 and a beta of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 earnings per share. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

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

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.