Omnicom Group Inc. $OMC Shares Acquired by NewEdge Advisors LLC

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Robinson Value Management Ltd. lifted its position in Omnicom Group by 0.4% during the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock worth $2,837,000 after acquiring an additional 139 shares in the last quarter. Versant Capital Management Inc lifted its position in Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after acquiring an additional 143 shares in the last quarter. Mezzasalma Advisors LLC lifted its position in Omnicom Group by 3.1% during the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock worth $443,000 after acquiring an additional 159 shares in the last quarter. Financial Advisors Network Inc. lifted its position in Omnicom Group by 6.1% during the 1st quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider's stock worth $228,000 after acquiring an additional 159 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in 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 worth $1,834,000 after acquiring an additional 165 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OMC. JPMorgan Chase & Co. reduced their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a report on Monday, June 23rd. Wells Fargo & Company dropped their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Finally, Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Stock Performance

Shares of NYSE OMC traded down $0.05 during trading on Monday, reaching $77.16. The stock had a trading volume of 333,002 shares, compared to its average volume of 3,590,081. Omnicom Group Inc. has a one year low of $68.37 and a one year 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 stock has a market cap of $14.95 billion, a PE ratio of 11.07, a P/E/G ratio of 1.53 and a beta of 0.97. The firm's 50 day moving average price is $75.31 and its two-hundred day moving average price is $75.51.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share 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 during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the business earned $1.95 EPS. The business's quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Omnicom Group's payout ratio is currently 40.17%.

Omnicom Group 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.