Gamco Investors INC. ET AL Has $13.52 Million Stake in Omnicom Group Inc. $OMC

Key Points

• Gamco Investors trimmed its Omnicom Group stake by 16.2% in the first quarter, selling 34,683 shares and leaving it with 179,539 shares worth about $13.52 million.
• Omnicom recently reported better-than-expected quarterly results, posting EPS of $1.90 versus $1.84 expected and revenue of $6.24 billion versus $5.85 billion estimated.
• The company also announced a quarterly dividend of $0.80 per share, implying a 4.0% annualized yield, while analysts currently view the stock as a Hold on average with a $99.38 price target.

Gamco Investors INC. ET AL reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 179,539 shares of the business services provider's stock after selling 34,683 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.06% of Omnicom Group worth $13,521,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OMC. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in Omnicom Group by 4.1% during the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider's stock valued at $305,000 after purchasing an additional 147 shares during the last quarter. Wakefield Asset Management LLLP boosted its position in Omnicom Group by 2.6% during the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock worth $477,000 after purchasing an additional 149 shares during the period. Caldwell Trust Co increased its holdings in shares of Omnicom Group by 29.0% in the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider's stock valued at $50,000 after purchasing an additional 149 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Omnicom Group by 39.1% in the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider's stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Finally, Hartford Financial Management Inc. increased its holdings in shares of Omnicom Group by 27.0% in the fourth quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider's stock valued at $62,000 after purchasing an additional 162 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OMC. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a "buy" rating and a $146.00 target price for the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Omnicom Group in a research note on Friday, May 22nd. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Citigroup cut their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Finally, Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $99.38.

Omnicom Group Stock Up 2.3%

NYSE OMC opened at $79.70 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The company has a 50 day moving average of $76.40 and a 200-day moving average of $76.77. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 204.37, a PEG ratio of 0.48 and a beta of 0.63.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $6.24 billion during the quarter, compared to analysts' expectations of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.70 earnings per share. On average, equities research analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 4.0%. Omnicom Group's payout ratio is currently 820.51%.

About Omnicom Group

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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