Lazard Asset Management LLC Has $111.61 Million Stake in Omnicom Group Inc. $OMC

Key Points

• Lazard Asset Management reduced its Omnicom Group stake by 23.6% in the first quarter, selling 457,445 shares and retaining 1.48 million shares valued at approximately $111.6 million. Institutional investors collectively own 91.97% of Omnicom’s stock.
• Analyst sentiment remains mixed, with four Buy, five Hold, and one Sell rating. The stock carries a consensus rating of Hold and an average price target of $99.38.
• Omnicom exceeded quarterly earnings and revenue expectations, reporting $1.90 in EPS and $6.24 billion in revenue. The company also declared a quarterly dividend of $0.80 per share, representing a 3.9% annualized yield.

Lazard Asset Management LLC decreased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,481,974 shares of the business services provider's stock after selling 457,445 shares during the quarter. Lazard Asset Management LLC owned about 0.52% of Omnicom Group worth $111,607,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new position in shares of Omnicom Group during the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID lifted its stake in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG acquired a new stake in shares of Omnicom Group in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Analyst Ratings Changes

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

Omnicom Group Stock Performance

Shares of OMC opened at $82.47 on Tuesday. The company has a market capitalization of $23.51 billion, a PE ratio of 211.48, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company's fifty day moving average price is $76.59 and its 200 day moving average price is $76.78.

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

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.9%. Omnicom Group's dividend payout ratio is presently 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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