Omnicom Group Inc. $OMC Shares Acquired by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC increased its stake in Omnicom Group by 34.5%, acquiring 3,305 additional shares, bringing its total holdings to 12,888 shares valued at approximately $1.07 million.
• Several analysts have downgraded Omnicom's stock ratings, with JPMorgan Chase reducing its price target from $104 to $96, while Bank of America raised its rating to "neutral" with a target of $80.
• Omnicom Group announced a quarterly dividend of $0.70 per share, reflecting an annualized payout of $2.80 and a yield of 3.7%, with the ex-dividend date set for September 2nd.

Freestone Capital Holdings LLC lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 34.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,888 shares of the business services provider's stock after buying an additional 3,305 shares during the period. Freestone Capital Holdings LLC's holdings in Omnicom Group were worth $1,069,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OMC. Rockefeller Capital Management L.P. purchased a new position in shares of Omnicom Group during the 4th quarter worth approximately $991,000. NewEdge Advisors LLC raised its stake in shares of Omnicom Group by 1.9% during the 4th quarter. NewEdge Advisors LLC now owns 41,527 shares of the business services provider's stock worth $3,573,000 after buying an additional 773 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Omnicom Group during the 4th quarter worth approximately $3,015,000. CANADA LIFE ASSURANCE Co increased its stake in Omnicom Group by 1.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 290,135 shares of the business services provider's stock valued at $24,950,000 after purchasing an additional 4,648 shares in the last quarter. Finally, Commerce Bank increased its stake in Omnicom Group by 0.5% in the 4th quarter. Commerce Bank now owns 62,384 shares of the business services provider's stock valued at $5,368,000 after purchasing an additional 337 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Omnicom Group stock traded up $2.0480 during mid-day trading on Friday, hitting $79.5280. 4,736,853 shares of the company were exchanged, compared to its average volume of 3,263,023. 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 business's 50 day simple moving average is $73.44 and its two-hundred day simple moving average is $76.13. The company has a market capitalization of $15.41 billion, a P/E ratio of 11.41, a PEG ratio of 1.54 and a beta of 0.94. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00.

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 company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.Omnicom Group's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 earnings per share. Analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.5%. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. 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. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company dropped 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. Finally, JPMorgan Chase & Co. dropped their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.