Sound Income Strategies LLC Grows Position in Omnicom Group Inc. $OMC

Key Points

• Sound Income Strategies LLC increased its holdings in Omnicom Group Inc. by 4.9%, owning 245,350 shares worth approximately $17.65 million as of its latest SEC filing.
• Wall Street analysts have generally upgraded Omnicom's stock ratings, with a consensus target price of $96.29 and five analysts rating it as a Buy.
• Omnicom Group is set to distribute a quarterly dividend of $0.70 per share, reflecting an annualized yield of 3.6% and a dividend payout ratio of 40.17%.

Sound Income Strategies LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 4.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 245,350 shares of the business services provider's stock after acquiring an additional 11,469 shares during the quarter. Sound Income Strategies LLC owned 0.13% of Omnicom Group worth $17,650,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in Omnicom Group during the first quarter worth about $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Omnicom Group during the 1st quarter worth approximately $36,000. Versant Capital Management Inc grew its holdings in shares of Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after acquiring an additional 143 shares during the period. Golden State Wealth Management LLC increased its stake in 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 valued at $41,000 after purchasing an additional 343 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in Omnicom Group in the 1st quarter valued at approximately $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OMC. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. dropped 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. Finally, Wells Fargo & Company raised shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Omnicom Group has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Omnicom Group Price Performance

NYSE:OMC opened at $77.04 on Monday. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.50 and a beta of 0.97. The company's 50-day moving average is $76.02 and its two-hundred day moving average is $75.10. 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 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 net margin of 8.67% and a return on equity of 33.62%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. The company's revenue was up 4.2% on a year-over-year basis. Research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

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