Sowell Financial Services LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,545 shares of the business services provider's stock, valued at approximately $543,000.
Other large investors have also modified their holdings of the company. Merit Financial Group LLC increased its position in shares of Omnicom Group by 157.9% during the first quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock worth $635,000 after acquiring an additional 4,690 shares during the period. Fifth Third Bancorp increased its position in shares of Omnicom Group by 13.9% during the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock worth $618,000 after acquiring an additional 913 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock worth $28,000 after purchasing an additional 195 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Omnicom Group by 51.1% during the first quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider's stock worth $592,000 after purchasing an additional 2,508 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in shares of Omnicom Group by 34.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 6,465 shares of the business services provider's stock worth $558,000 after purchasing an additional 1,661 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.
Omnicom Group Stock Performance
NYSE OMC traded up $0.71 during trading hours on Friday, hitting $70.13. The company had a trading volume of 8,876,313 shares, compared to its average volume of 2,482,021. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 1.01. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The company has a market cap of $13.68 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. The business has a 50 day moving average of $73.82 and a 200-day moving average of $80.53.
Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. As a group, equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.
Omnicom Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.99%. Omnicom Group's dividend payout ratio is presently 38.30%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on OMC shares. JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Citigroup reiterated a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. UBS Group lowered their target price on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, Barclays lowered their target price on shares of Omnicom Group from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.29.
Check Out Our Latest Analysis on Omnicom Group
About Omnicom Group
(
Free Report)
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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