NewEdge Advisors LLC Raises Stock Holdings in Omnicom Group Inc. $OMC

Key Points

• NewEdge Advisors LLC increased its stake in Omnicom Group by 9.3% during Q1, now holding 45,378 shares valued at approximately $3.76 million.
• Omnicom Group reported a quarterly EPS of $2.05, exceeding expectations, with a revenue of $4.02 billion, up 4.2% from the previous year.
• The company declared a quarterly dividend of $0.70 per share, resulting in an annualized yield of 3.6%, with a payout ratio of 40.17%.

NewEdge Advisors LLC raised its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 45,378 shares of the business services provider's stock after purchasing an additional 3,851 shares during the period. NewEdge Advisors LLC's holdings in Omnicom Group were worth $3,762,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Merit Financial Group LLC grew its holdings in Omnicom Group by 157.9% during the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after purchasing an additional 4,690 shares during the period. Golden State Wealth Management LLC grew its holdings in Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the period. Fifth Third Bancorp grew its holdings in Omnicom Group by 13.9% during the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock valued at $618,000 after purchasing an additional 913 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Omnicom Group during the first quarter valued at about $1,357,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Omnicom Group by 10.4% in the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock worth $6,755,000 after acquiring an additional 7,665 shares during the period. Institutional investors own 91.97% of the company's stock.

Omnicom Group Trading Down 0.9%

OMC stock traded down $0.70 during midday trading on Friday, reaching $77.14. 3,292,519 shares of the company traded hands, compared to its average volume of 3,022,477. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The business has a 50 day moving average of $75.26 and a 200-day moving average of $75.66. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.54 and a beta of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The company's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is presently 40.17%.

Analyst Upgrades and Downgrades

OMC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Wells Fargo & Company decreased their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Bank of America upgraded 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. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Omnicom Group has an average rating of "Moderate Buy" and a consensus target price of $94.43.

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.