Russell Investments Group Ltd. Boosts Stock Position in Omnicom Group Inc. $OMC

Key Points

• Russell Investments Group Ltd. increased its stake in Omnicom Group by 39.8% during the first quarter, holding a total of 512,756 shares worth $42.35 million.
• Omnicom Group reported quarterly earnings with an EPS of $2.05, surpassing estimates, and experienced a 4.2% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.70 per share, reflecting an annualized yield of 3.7%.

Russell Investments Group Ltd. raised its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 39.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 512,756 shares of the business services provider's stock after purchasing an additional 145,905 shares during the period. Russell Investments Group Ltd. owned 0.26% of Omnicom Group worth $42,346,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Johnson Financial Group Inc. grew its stake in shares of Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Omnicom Group in the first quarter worth about $34,000. Versant Capital Management Inc boosted its holdings in Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after acquiring an additional 143 shares during the period. CoreCap Advisors LLC grew its position in Omnicom Group by 708.8% during the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after acquiring an additional 404 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Omnicom Group Price Performance

Shares of OMC traded up $0.9170 during trading hours on Tuesday, reaching $77.0770. 758,673 shares of the stock traded hands, compared to its average volume of 3,629,384. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week 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. The company has a market cap of $14.93 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.51 and a beta of 0.94. The company's 50-day moving average price is $72.94 and its two-hundred day moving average price is $76.24.

Omnicom Group (NYSE:OMC - Get Free Report) last issued 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. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter last year, the business posted $1.95 earnings per share. The business's quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Omnicom Group's dividend payout ratio (DPR) 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.