iA Global Asset Management Inc. Purchases Shares of 15,676 Omnicom Group Inc. (NYSE:OMC)

Key Points

• iA Global Asset Management Inc. purchased 15,676 shares of Omnicom Group Inc., valued at approximately $1,300,000, in the first quarter.
• Analyst ratings for Omnicom Group reflect mixed sentiment, with Wells Fargo reducing their target price to $78.00, while Citigroup maintains a "buy" rating with a target of $103.00.
• Omnicom Group announced a quarterly dividend of $0.70 per share, representing a 3.8% yield, to be paid on October 10th.

iA Global Asset Management Inc. purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,676 shares of the business services provider's stock, valued at approximately $1,300,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of OMC. Pacer Advisors Inc. increased its stake in Omnicom Group by 17,506.1% during the 1st quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock valued at $227,512,000 after purchasing an additional 2,728,494 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Omnicom Group in the 4th quarter worth $150,819,000. FMR LLC grew its stake in shares of Omnicom Group by 250.1% in the 4th quarter. FMR LLC now owns 2,010,547 shares of the business services provider's stock worth $172,987,000 after acquiring an additional 1,436,231 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Omnicom Group by 20.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider's stock worth $595,147,000 after acquiring an additional 1,205,165 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Omnicom Group by 23.8% in the 4th quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock worth $334,076,000 after acquiring an additional 747,575 shares in the last quarter. Institutional investors own 91.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on OMC shares. Wells Fargo & Company reduced their target price on shares of 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. JPMorgan Chase & Co. reduced their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Citigroup reiterated a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a report on Monday, June 23rd. Finally, Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.43.

Omnicom Group Price Performance

NYSE OMC opened at $73.05 on Thursday. The company has a market cap of $14.15 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.94. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm's 50-day simple moving average is $72.48 and its two-hundred day simple moving average is $77.05.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $2.02 by $0.03. The business had revenue of $4.02 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. Research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be issued 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 3.8%. Omnicom Group's dividend payout ratio is 40.17%.

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.

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