Oppenheimer Asset Management Inc. Acquires New Stake in Omnicom Group Inc. $OMC

Key Points

• Oppenheimer Asset Management acquired 125,579 shares of Omnicom Group in the second quarter, worth approximately $9.15 million. Institutional investors now own 91.97% of the company.
• Analysts maintain a mixed outlook, resulting in a consensus “Hold” rating and a $99 average price target. Price targets range from $83 to $146.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year, but earnings of $2.65 per share narrowly missed estimates. The company also declared a quarterly dividend of $0.80 per share, representing a 3.7% yield.

Oppenheimer Asset Management Inc. acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 125,579 shares of the business services provider's stock, valued at approximately $9,146,000.

Several other hedge funds also recently made changes to their positions in OMC. Bryn Mawr Trust Advisors LLC purchased a new position in Omnicom Group during the second quarter worth about $411,000. Hardy Reed LLC acquired a new position in Omnicom Group during the 2nd quarter worth approximately $693,000. Tema ETFs LLC raised its stake in shares of Omnicom Group by 10.4% during the 2nd quarter. Tema ETFs LLC now owns 7,684 shares of the business services provider's stock worth $560,000 after buying an additional 725 shares in the last quarter. A&I Financial Services LLC lifted its holdings in shares of Omnicom Group by 9.6% in the 2nd quarter. A&I Financial Services LLC now owns 10,141 shares of the business services provider's stock valued at $739,000 after buying an additional 889 shares during the period. Finally, Alliance Wealth Advisors LLC boosted its stake in shares of Omnicom Group by 4.0% in the second quarter. Alliance Wealth Advisors LLC now owns 5,293 shares of the business services provider's stock valued at $385,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Analysts Set New Price Targets

OMC has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 target price on the stock. Finally, Weiss Ratings raised shares of Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Omnicom Group has a consensus rating of "Hold" and a consensus target price of $99.00.

Omnicom Group Stock Down 1.0%

Omnicom Group stock opened at $87.45 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 75.39, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $88.55. The stock's fifty day moving average is $79.20 and its two-hundred day moving average is $77.24.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts' consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to analysts' expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company's quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 EPS. Analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal 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 issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group's dividend payout ratio (DPR) is 275.86%.

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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