Ballentine Partners LLC Purchases 3,755 Shares of Omnicom Group Inc. (NYSE:OMC)

Ballentine Partners LLC raised its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,888 shares of the business services provider's stock after acquiring an additional 3,755 shares during the quarter. Ballentine Partners LLC's holdings in Omnicom Group were worth $1,566,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. increased its holdings in shares of Omnicom Group by 153.8% in 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 during the last quarter. Versant Capital Management Inc grew its position 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 during the period. CoreCap Advisors LLC boosted its position in shares of Omnicom Group by 708.8% during the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after buying an additional 404 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Omnicom Group by 230.2% during the first 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. Finally, Whittier Trust Co. boosted its position in shares of Omnicom Group by 194.6% during the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock worth $42,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OMC shares. Citigroup restated a "buy" rating and issued a $103.00 price target on shares of Omnicom Group in a research note on Tuesday, April 15th. 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 note on Monday, June 23rd. Wells Fargo & Company reduced their price objective on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. 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 research report on Thursday. Finally, UBS Group cut their target price on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.29.

Omnicom Group Stock Down 0.9%

Shares of OMC traded down $0.64 during mid-day trading on Friday, reaching $72.79. The company's stock had a trading volume of 3,599,327 shares, compared to its average volume of 2,669,898. The business has a fifty day moving average of $73.29 and a 200 day moving average of $78.48. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.60 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. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. As a group, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Tuesday, June 10th. Omnicom Group's dividend payout ratio is currently 38.30%.

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.