Oppenheimer Asset Management Inc. Makes New $7.83 Million Investment in Omnicom Group Inc. (NYSE:OMC)

Oppenheimer Asset Management Inc. purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,420 shares of the business services provider's stock, valued at approximately $7,828,000.

Several other institutional investors also recently modified their holdings of OMC. Merit Financial Group LLC increased its holdings in Omnicom Group by 157.9% in 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. Fifth Third Bancorp increased its holdings in Omnicom Group by 13.9% in 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. Venturi Wealth Management LLC increased its holdings in Omnicom Group by 146.6% in the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock valued at $28,000 after purchasing an additional 195 shares during the period. Farther Finance Advisors LLC increased its holdings in Omnicom Group by 51.1% in the first quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider's stock valued at $592,000 after purchasing an additional 2,508 shares during the period. Finally, Atria Wealth Solutions Inc. increased its holdings in Omnicom Group by 34.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 6,465 shares of the business services provider's stock valued at $558,000 after purchasing an additional 1,661 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Citigroup restated a "buy" rating and issued a $103.00 price objective on shares of Omnicom Group in a report on Tuesday, April 15th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Monday. UBS Group decreased their price objective on Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Finally, Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $105.00 to $80.00 in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $96.43.

Omnicom Group Trading Up 0.8%

OMC traded up $0.55 during trading on Thursday, reaching $71.24. 5,988,895 shares of the stock traded hands, compared to its average volume of 2,545,531. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $13.90 billion, a PE ratio of 9.75, a P/E/G ratio of 1.60 and a beta of 0.93. The stock's 50-day moving average is $73.62 and its 200 day moving average is $79.88. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. Equities analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group's dividend payout ratio (DPR) is currently 38.30%.

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.