Shayne & Jacobs LLC Purchases 6,220 Shares of Omnicom Group Inc. $OMC

Key Points

• Shayne & Jacobs LLC increased its stake in Omnicom Group Inc. by 17.7%, acquiring an additional 6,220 shares, bringing its total holdings to 41,321 shares valued at approximately $2.97 million.
• Several institutional investors, including Farther Finance Advisors LLC and Fifth Third Bancorp, have also significantly increased their positions in Omnicom Group, indicating strong interest in the stock.
• Wall Street analysts have mixed ratings on Omnicom Group, with an average consensus rating of "Moderate Buy" and a price target around $96.29, reflecting optimism about future growth.

Shayne & Jacobs LLC increased its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 17.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,321 shares of the business services provider's stock after acquiring an additional 6,220 shares during the quarter. Omnicom Group comprises approximately 1.0% of Shayne & Jacobs LLC's investment portfolio, making the stock its 19th biggest holding. Shayne & Jacobs LLC's holdings in Omnicom Group were worth $2,973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OMC. Farther Finance Advisors LLC boosted its stake in Omnicom Group by 51.1% during the 1st quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider's stock worth $592,000 after acquiring an additional 2,508 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Omnicom Group in the first quarter valued at approximately $208,000. CX Institutional lifted its stake in Omnicom Group by 6.8% in the first quarter. CX Institutional now owns 4,394 shares of the business services provider's stock valued at $364,000 after buying an additional 281 shares in the last quarter. Focus Financial Network Inc. bought a new position in Omnicom Group in the first quarter valued at approximately $207,000. Finally, Fifth Third Bancorp lifted its stake 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 buying an additional 913 shares in the last quarter. Institutional investors own 91.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OMC shares. Wells Fargo & Company raised shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. cut their price target 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Omnicom Group in a research note on Wednesday. Barclays lowered 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 note on Wednesday, June 25th. Finally, Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research note on Monday, June 23rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Omnicom Group Stock Performance

Shares of OMC stock opened at $76.50 on Friday. The company's fifty day simple moving average is $76.88 and its 200-day simple moving average is $75.02. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.82 billion, a PE ratio of 10.98, a P/E/G ratio of 1.52 and a beta of 0.96. 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 earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.95 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 2nd were issued 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 was Tuesday, September 2nd. Omnicom Group's payout ratio is presently 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.

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