Janney Montgomery Scott LLC Grows Stock Holdings in Omnicom Group Inc. $OMC

Key Points

• Janney Montgomery Scott LLC increased its stake in Omnicom Group Inc. by 7.6%, owning approximately 118,787 shares valued at $8.5 million as of the 2nd quarter.
• Omnicom Group reported a Q2 earnings per share of $2.05, beating estimates, with revenues rising 4.2% year-over-year to $4.02 billion.
• The company will pay a quarterly dividend of $0.70 on October 10th, representing a 3.6% dividend yield for shareholders.

Janney Montgomery Scott LLC raised its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,787 shares of the business services provider's stock after buying an additional 8,391 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Omnicom Group worth $8,546,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Zions Bancorporation National Association UT acquired a new position in Omnicom Group in the 1st quarter worth approximately $34,000. Gen Wealth Partners Inc purchased a new position in shares of Omnicom Group during the 1st quarter valued at approximately $36,000. Golden State Wealth Management LLC lifted its position in shares of Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after buying an additional 343 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Omnicom Group in the 1st quarter valued at $43,000. Finally, Harbour Investments Inc. lifted its holdings in Omnicom Group by 39.1% in the 1st quarter. Harbour Investments Inc. now owns 616 shares of the business services provider's stock valued at $51,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Performance

NYSE OMC opened at $77.59 on Friday. The company has a market cap of $15.03 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.51 and a beta of 0.96. 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 stock has a 50-day moving average of $76.33 and a two-hundred day moving average of $75.05. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last released 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 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 period in the previous year, the company posted $1.95 EPS. As a group, analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

Analyst Ratings Changes

A number of analysts have issued reports on OMC shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Omnicom Group in a research note on Saturday, September 27th. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company raised Omnicom Group from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. cut their target price 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. Finally, Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Monday, June 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

About Omnicom Group

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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