Readystate Asset Management LP Invests $18.86 Million in Omnicom Group Inc. (NYSE:OMC)

Readystate Asset Management LP bought a new position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 227,424 shares of the business services provider's stock, valued at approximately $18,856,000. Readystate Asset Management LP owned about 0.12% of Omnicom Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OMC. Versant Capital Management Inc raised its position in shares of Omnicom Group by 45.7% during the first 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. MGO One Seven LLC increased its stake in Omnicom Group by 3.2% in the fourth quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider's stock valued at $437,000 after acquiring an additional 157 shares during the period. Mezzasalma Advisors LLC increased its stake in Omnicom Group by 3.1% in the first quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock valued at $443,000 after acquiring an additional 159 shares during the period. Linden Thomas Advisory Services LLC increased its stake in Omnicom Group by 0.8% in the first quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock valued at $1,834,000 after acquiring an additional 165 shares during the period. Finally, Center for Financial Planning Inc. increased its stake in Omnicom Group by 2.2% in the first quarter. Center for Financial Planning Inc. now owns 9,168 shares of the business services provider's stock valued at $760,000 after acquiring an additional 197 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OMC shares. Citigroup reissued a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. JPMorgan Chase & Co. lowered their target price 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 raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Finally, Wells Fargo & Company lowered their target price 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Price Performance

Omnicom Group stock traded down $0.65 during trading hours on Friday, hitting $76.41. 2,112,530 shares of the stock were exchanged, compared to its average volume of 3,677,494. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The stock has a market capitalization of $14.80 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.55 and a beta of 0.92. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The business's 50-day moving average is $72.73 and its two-hundred day moving average is $77.74.

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 company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business earned $1.95 earnings per share. Omnicom Group's quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.66%. Omnicom Group's payout ratio is 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.