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

Key Points

• Citigroup Inc. increased its holdings in Omnicom Group Inc. by 42.1% in Q1, amounting to 430,864 shares valued at approximately $35.72 million.
• Omnicom Group's stock reached a 52-week high of $107.00, while recently opening at $72.98, and reported a 4.2% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.70 per share, yielding 3.8%, set to be paid on October 10th.

Citigroup Inc. raised its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 42.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,864 shares of the business services provider's stock after purchasing an additional 127,749 shares during the period. Citigroup Inc. owned about 0.22% of Omnicom Group worth $35,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. lifted its holdings in Omnicom Group by 153.8% in the 4th 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 lifted its holdings in Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after purchasing an additional 143 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Omnicom Group during the 1st quarter worth about $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 1.1%

OMC traded up $0.85 on Friday, reaching $76.26. 3,126,037 shares of the company's stock were exchanged, compared to its average volume of 3,737,071. The company's 50 day moving average is $72.84 and its 200-day moving average is $76.45. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.50 and a beta of 0.94. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. 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 (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company's revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS. Equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.7%. Omnicom Group's dividend payout ratio (DPR) is 40.17%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OMC. Wells Fargo & Company cut their price objective on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a report on Monday, June 23rd. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Company 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.