Alps Advisors Inc. Buys 30,609 Shares of Omnicom Group Inc. (NYSE:OMC)

Alps Advisors Inc. boosted its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 298,829 shares of the business services provider's stock after purchasing an additional 30,609 shares during the quarter. Alps Advisors Inc. owned about 0.15% of Omnicom Group worth $24,776,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc lifted its stake 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 worth $38,000 after purchasing an additional 143 shares in the last quarter. MGO One Seven LLC raised its position 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 valued at $437,000 after buying an additional 157 shares in the last quarter. Mezzasalma Advisors LLC raised its position 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 valued at $443,000 after buying an additional 159 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position 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 valued at $1,834,000 after buying an additional 165 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its position in shares of Omnicom Group by 2.2% during the 1st quarter. Center for Financial Planning Inc. now owns 9,168 shares of the business services provider's stock valued at $760,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Trading Down 0.9%

Omnicom Group stock traded down $0.64 during midday trading on Friday, reaching $72.79. The stock had a trading volume of 3,599,327 shares, compared to its average volume of 2,669,898. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. The company has a fifty day moving average of $73.29 and a 200 day moving average of $78.53.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $3.73 billion. On average, analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th were paid a $0.70 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.85%. Omnicom Group's dividend payout ratio is currently 38.30%.

Analysts Set New Price Targets

Several analysts have recently issued reports on OMC shares. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. Citigroup restated a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. decreased their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, UBS Group reduced their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.29.

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.