Omnicom Group Inc. $OMC Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors increased its Omnicom Group stake by 25.4% in the first quarter, bringing its holdings to 756,426 shares valued at approximately $57 million. Institutional investors and hedge funds collectively own 91.97% of OMC.
• Analyst views remain mixed, with an overall “Hold” consensus and an average price target of $99.38. Targets range from $83 to $146, including a new “Buy” rating from Goldman Sachs and “Neutral” coverage from Rothschild & Co. Redburn.
• Omnicom reported quarterly revenue of $6.24 billion and adjusted earnings of $1.90 per share, exceeding analyst estimates. The company also declared a quarterly dividend of $0.80 per share, representing a 4.0% annualized yield.

First Trust Advisors LP raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 756,426 shares of the business services provider's stock after purchasing an additional 153,283 shares during the period. First Trust Advisors LP owned about 0.27% of Omnicom Group worth $56,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider's stock worth $138,000 after acquiring an additional 869 shares during the period. Gamco Investors INC. ET AL acquired a new position in Omnicom Group in the second quarter valued at approximately $241,000. Gabelli Funds LLC acquired a new position in Omnicom Group in the second quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. grew its holdings in shares of Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider's stock valued at $2,113,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider's stock valued at $25,990,000 after purchasing an additional 44,746 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on OMC. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price target on the stock. Morgan Stanley upped their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 target price on the stock. Citigroup cut their target price on Omnicom Group from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Omnicom Group in a report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $99.38.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $79.70 on Monday. The firm's 50 day moving average is $76.40 and its two-hundred day moving average is $76.76. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The firm has a market capitalization of $22.72 billion, a P/E ratio of 204.37, a PEG ratio of 0.48 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 4.0%. Omnicom Group's payout ratio is presently 820.51%.

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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