Polar Asset Management Partners Inc. Invests $1.85 Million in Omnicom Group Inc. $OMC

Key Points

• Polar Asset Management Partners Inc. has acquired a new stake in Omnicom Group, purchasing 22,360 shares valued at approximately $1.85 million during the 1st quarter.
• Omnicom Group recently reported an EPS of $2.05 for the quarter, exceeding estimates and showing a 4.2% year-over-year revenue increase to $4.02 billion.
• The company declared a quarterly dividend of $0.70 per share, with an annualized yield of 3.5%, scheduled for payment on October 10th.

Polar Asset Management Partners Inc. bought a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 22,360 shares of the business services provider's stock, valued at approximately $1,854,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC lifted its position in shares of Omnicom Group by 157.9% in 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 during the period. Golden State Wealth Management LLC lifted its position in shares of 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 worth $41,000 after purchasing an additional 343 shares during the period. Fifth Third Bancorp lifted its position in shares of Omnicom Group by 13.9% in the 1st 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 shares of Omnicom Group in the 1st quarter worth about $1,357,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Omnicom Group by 10.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock worth $6,755,000 after acquiring an additional 7,665 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Omnicom Group Stock Down 2.3%

NYSE:OMC traded down $1.77 on Wednesday, reaching $75.96. 2,945,489 shares of the stock traded hands, compared to its average volume of 3,617,942. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.57 and a beta of 0.97. 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 Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The company's fifty day simple moving average is $75.18 and its 200 day simple moving average is $75.70.

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

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is currently 40.17%.

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.