Vident Advisory LLC Has $3.49 Million Holdings in Omnicom Group Inc. $OMC

Key Points

• Vident Advisory LLC increased its stake in Omnicom Group Inc. by 107.8%, owning 42,040 shares valued at $3.49 million after acquiring 21,809 additional shares in Q1.
• Analysts have set a consensus rating of "Moderate Buy" for Omnicom Group, with an average price target of $94.43, despite some firms adjusting their price objectives downward.
• Omnicom Group recently declared a quarterly dividend of $0.70 per share, which will yield an annualized dividend of 3.6% for stockholders of record.

Vident Advisory LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 107.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,040 shares of the business services provider's stock after buying an additional 21,809 shares during the period. Vident Advisory LLC's holdings in Omnicom Group were worth $3,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Zions Bancorporation National Association UT acquired a new stake in Omnicom Group in the 1st quarter valued at $34,000. Gen Wealth Partners Inc acquired a new stake in Omnicom Group in the 1st quarter valued at $36,000. Versant Capital Management Inc increased 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 valued at $38,000 after buying an additional 143 shares during the last quarter. CoreCap Advisors LLC increased its stake in Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after buying an additional 404 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after buying an additional 343 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OMC has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research note on Monday, June 23rd. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $94.43.

Omnicom Group Stock Performance

OMC traded up $0.48 on Wednesday, reaching $77.41. The company had a trading volume of 2,740,407 shares, compared to its average volume of 3,279,533. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The stock has a market cap of $15.00 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.55 and a beta of 0.97. The company's fifty day moving average is $74.66 and its 200 day moving average is $75.87. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business posted $1.95 EPS. The business's revenue was up 4.2% compared to the same quarter last year. As a group, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd 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 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is presently 40.17%.

About Omnicom Group

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.