Omnicom Group Inc. $OMC Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its holdings in Omnicom Group by 192.2%, acquiring an additional 11,997 shares, bringing their total to 18,239 shares valued at approximately $1,512,000.
• Omnicom Group announced a quarterly dividend of $0.70 per share, which will be paid on October 10th, representing a 3.6% dividend yield based on a $2.80 annualized dividend.
• Recent earnings reports show Omnicom Group's EPS was $2.05 for the last quarter, surpassing estimates, with revenue reaching $4.02 billion, reflecting a 4.2% year-over-year increase.

Ieq Capital LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 192.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,239 shares of the business services provider's stock after purchasing an additional 11,997 shares during the period. Ieq Capital LLC's holdings in Omnicom Group were worth $1,512,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of OMC. Zions Bancorporation National Association UT acquired a new position in Omnicom Group in the first quarter valued at $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group in the 1st quarter valued at about $36,000. Versant Capital Management Inc raised its holdings in shares of Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after buying an additional 143 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after buying an additional 404 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in 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 purchasing an additional 343 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Trading Up 1.2%

Shares of OMC traded up $0.92 during mid-day trading on Thursday, reaching $78.45. The company had a trading volume of 2,828,418 shares, compared to its average volume of 3,628,270. The stock has a market cap of $15.20 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97. The firm has a fifty day simple moving average of $74.66 and a 200-day simple moving average of $75.87. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97.

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 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 analyst estimates of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.95 EPS. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend yield of 3.6%. Omnicom Group's payout ratio is presently 40.17%.

Analyst Ratings Changes

A number of research analysts have issued reports on OMC shares. Wells Fargo & Company dropped 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 report on Wednesday, July 16th. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a report on Monday, June 23rd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Omnicom Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.43.

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.