Pacer Advisors Inc. Acquires 2,728,494 Shares of Omnicom Group Inc. (NYSE:OMC)

Key Points

• Pacer Advisors Inc. has dramatically increased its stake in Omnicom Group Inc. by 17,506.1%, now owning approximately 1.41% of the company with a total of 2,744,080 shares valued at around $227,512,000.
• Recent analyst reports show a mixed outlook for Omnicom Group, with price targets ranging from $78.00 to $103.00 and a current average rating of "Moderate Buy".
• Omnicom Group recently announced a quarterly dividend of $0.70, which translates to an annualized dividend of $2.80 and a yield of 3.64% for investors.

Pacer Advisors Inc. lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 17,506.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,744,080 shares of the business services provider's stock after buying an additional 2,728,494 shares during the quarter. Pacer Advisors Inc. owned about 1.41% of Omnicom Group worth $227,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in OMC. Merit Financial Group LLC increased its holdings in Omnicom Group by 157.9% during the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock worth $635,000 after purchasing an additional 4,690 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after acquiring an additional 343 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Omnicom Group by 13.9% in the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock worth $618,000 after purchasing an additional 913 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Omnicom Group in the first quarter valued at approximately $1,357,000. Finally, Asset Management One Co. Ltd. lifted its stake in Omnicom Group by 10.4% during the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock worth $6,755,000 after purchasing an additional 7,665 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Analysts Set New Price Targets

OMC has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. lowered their target price 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. Wells Fargo & Company dropped their price objective on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Finally, Bank of America raised 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. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Omnicom Group currently has an average rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Trading Down 1.1%

OMC opened at $77.00 on Friday. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.55 and a beta of 0.92. The stock has a fifty day moving average price of $72.73 and a 200-day moving average price of $77.74. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating 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 company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. Omnicom Group's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's payout ratio is currently 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.

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