Meeder Asset Management Inc. Makes New $7.69 Million Investment in Omnicom Group Inc. $OMC

Key Points

• Meeder Asset Management acquired 105,530 shares of Omnicom Group worth approximately $7.69 million during the second quarter. Institutional investors collectively own 91.97% of the company.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $99.00; recent targets range from $93 to $146, while Zacks downgraded the stock to “Strong Sell.”
• Omnicom reported quarterly revenue of $6.56 billion, exceeding estimates, but earnings per share of $2.65 fell slightly short. The company declared a quarterly dividend of $0.80 per share, representing a 3.7% annualized yield.

Meeder Asset Management Inc. bought a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 105,530 shares of the business services provider's stock, valued at approximately $7,686,000.

Several other institutional investors and hedge funds have also recently modified their holdings of OMC. Activest Wealth Management grew its position in Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock valued at $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Omnicom Group during the 4th quarter valued at about $26,000. Elyxium Wealth LLC purchased a new position in Omnicom Group in the fourth quarter worth about $26,000. Legacy Wealth Managment LLC ID raised its holdings in Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares during the last quarter. Finally, EFG International AG bought a new position in shares of Omnicom Group in the fourth quarter worth approximately $28,000. 91.97% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Wells Fargo & Company upped their price objective on Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Citigroup cut their target price on Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 target price for the company. Finally, Zacks Research cut Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $99.00.

Omnicom Group Trading Down 2.4%

NYSE:OMC opened at $85.51 on Tuesday. The company has a market cap of $23.46 billion, a PE ratio of 73.72, a price-to-earnings-growth ratio of 0.58 and a beta of 0.64. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The company has a 50 day simple moving average of $79.41 and a two-hundred day simple moving average of $77.27. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $88.55.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. Omnicom Group's quarterly revenue was up 63.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share. Research analysts forecast that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group's dividend payout ratio is 275.86%.

Omnicom Group Company Profile

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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