Omnicom Group Inc. (NYSE:OMC) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. has increased its holdings in Omnicom Group by 1.4%, acquiring an additional 7,345 shares for a total of 546,158 shares, valued at approximately $45.28 million.
• Several analysts have revised their price targets for Omnicom Group, with Wells Fargo lowering it from $84.00 to $78.00, while Citigroup maintains a "buy" rating with a price objective of $103.00.
• Omnicom Group recently declared a quarterly dividend of $0.70 per share, representing an annual yield of 3.66%, and will be paid to shareholders on October 10th.

Assetmark Inc. raised its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,158 shares of the business services provider's stock after acquiring an additional 7,345 shares during the quarter. Assetmark Inc. owned approximately 0.28% of Omnicom Group worth $45,282,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider's stock worth $595,147,000 after buying an additional 1,205,165 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after buying an additional 51,148 shares in the last quarter. First Trust Advisors LP grew its position in shares of Omnicom Group by 23.8% during the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock worth $334,076,000 after buying an additional 747,575 shares in the last quarter. Beutel Goodman & Co Ltd. grew its position in shares of Omnicom Group by 7.1% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider's stock worth $292,698,000 after buying an additional 224,870 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Omnicom Group by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,902,160 shares of the business services provider's stock worth $249,703,000 after buying an additional 248,149 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE OMC traded down $0.73 on Wednesday, reaching $73.59. The stock had a trading volume of 472,937 shares, compared to its average volume of 3,635,323. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The business's 50-day moving average price is $72.64 and its 200 day moving average price is $77.52. The stock has a market cap of $14.26 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 1.48 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 EPS for the quarter, topping the consensus estimate of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The company's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

Analysts Set New Price Targets

OMC has been the subject of a number of analyst reports. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research report on Monday, June 23rd. Wells Fargo & Company lowered their price target on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. 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. Finally, Citigroup reaffirmed a "buy" rating and issued a $103.00 price target on shares of Omnicom Group in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has an average rating of "Moderate Buy" and an average target price of $94.43.

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.