Moran Wealth Management LLC Takes $6.31 Million Position in Omnicom Group Inc. (NYSE:OMC)

Moran Wealth Management LLC purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,060 shares of the business services provider's stock, valued at approximately $6,306,000.

Other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC raised its position in shares of Omnicom Group by 157.9% during the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after buying an additional 4,690 shares in the last quarter. Fifth Third Bancorp grew its position in Omnicom Group by 13.9% in the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock worth $618,000 after acquiring an additional 913 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock worth $28,000 after acquiring an additional 195 shares during the last quarter. Farther Finance Advisors LLC raised its position in Omnicom Group by 51.1% during the first quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider's stock valued at $592,000 after purchasing an additional 2,508 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in Omnicom Group by 34.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 6,465 shares of the business services provider's stock valued at $558,000 after purchasing an additional 1,661 shares during the period. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Ratings Changes

OMC has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Citigroup reaffirmed a "buy" rating and set a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $105.00 to $80.00 in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, UBS Group cut their price target on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $96.43.

Omnicom Group Trading Up 0.8%

OMC stock traded up $0.55 during midday trading on Thursday, reaching $71.24. The company's stock had a trading volume of 5,988,895 shares, compared to its average volume of 2,545,531. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The firm has a market capitalization of $13.90 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.60 and a beta of 0.93. The stock has a fifty day simple moving average of $73.62 and a two-hundred day simple moving average of $79.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 1.01.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.73 billion. On average, equities research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group's dividend payout ratio (DPR) is presently 38.30%.

Omnicom Group Company 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.