JPMorgan Chase & Co. Acquires 704,275 Shares of Omnicom Group Inc. $OMC

Key Points

• JPMorgan Chase & Co. increased its stake in Omnicom Group Inc. by 32.8%, acquiring an additional 704,275 shares and bringing their total ownership to approximately 2.85 million shares worth $236.4 million.
• Omnicom Group recently reported earnings per share of $2.05, exceeding estimates and reflecting a 4.2% year-over-year increase in revenue, totaling $4.02 billion.
• The company announced a quarterly dividend of $0.70 per share, representing a 3.7% dividend yield and a payout ratio of 40.17%.

JPMorgan Chase & Co. increased its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 32.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,851,294 shares of the business services provider's stock after purchasing an additional 704,275 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.46% of Omnicom Group worth $236,401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robinson Value Management Ltd. lifted its position in shares of Omnicom Group by 0.4% during the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock worth $2,837,000 after purchasing an additional 139 shares during the last quarter. Versant Capital Management Inc raised its holdings in Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after acquiring an additional 143 shares in the last quarter. MGO One Seven LLC grew its holdings in shares of Omnicom Group by 3.2% during the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider's stock worth $437,000 after purchasing an additional 157 shares in the last quarter. Mezzasalma Advisors LLC grew its holdings in shares of Omnicom Group by 3.1% during the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock worth $443,000 after purchasing an additional 159 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Omnicom Group by 0.8% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock worth $1,834,000 after purchasing an additional 165 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Price Performance

Shares of OMC traded up $0.33 during mid-day trading on Monday, reaching $76.64. The company had a trading volume of 400,191 shares, compared to its average volume of 3,639,260. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. 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 company's 50-day moving average is $72.84 and its 200-day moving average is $76.31. The company has a market capitalization of $14.85 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.51 and a beta of 0.94.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same period in the prior year, the firm posted $1.95 EPS. Omnicom Group's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS 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 given a $0.70 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.7%. Omnicom Group's payout ratio is presently 40.17%.

Analyst Ratings Changes

Several analysts have recently weighed in on OMC shares. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a report on Monday, June 23rd. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Wells Fargo & Company decreased their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently 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.