Sound Income Strategies LLC Raises Position in Omnicom Group Inc. (NYSE:OMC)

Sound Income Strategies LLC grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 233,881 shares of the business services provider's stock after acquiring an additional 7,797 shares during the quarter. Omnicom Group comprises 1.1% of Sound Income Strategies LLC's investment portfolio, making the stock its 26th largest position. Sound Income Strategies LLC owned about 0.12% of Omnicom Group worth $19,391,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of OMC. Vanguard Group Inc. boosted its stake in Omnicom Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock worth $1,982,518,000 after buying an additional 99,424 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Omnicom Group by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider's stock valued at $577,732,000 after acquiring an additional 156,438 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock valued at $513,922,000 after buying an additional 1,992,695 shares during the period. Geode Capital Management LLC grew its holdings in shares of Omnicom Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after acquiring an additional 51,148 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Omnicom Group by 23.8% during the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock valued at $334,076,000 after purchasing an additional 747,575 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Down 2.5%

Shares of NYSE:OMC opened at $69.42 on Friday. The stock has a fifty day simple moving average of $74.30 and a two-hundred day simple moving average of $81.57. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.94 and a beta of 0.93. Omnicom Group Inc. has a 12-month low of $69.13 and a 12-month high of $107.00. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.73 billion. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. On average, research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group's dividend payout ratio is currently 38.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group dropped their price target on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Citigroup restated a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Barclays dropped their price target on Omnicom Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Wells Fargo & Company dropped their price target on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $101.29.

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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