United Services Automobile Association Takes Position in Omnicom Group Inc. $OMC

Key Points

• United Services Automobile Association has acquired a new stake in Omnicom Group, purchasing 3,828 shares valued at approximately $307,000 in the first quarter.
• Several hedge funds have increased their positions in Omnicom Group, leading to institutional investors owning 91.97% of the company's stock.
• Omnicom Group has announced a quarterly dividend of $0.70 per share, representing an annualized dividend of $2.80 and a yield of 3.6%, payable on October 10th.

United Services Automobile Association purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,828 shares of the business services provider's stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC increased its position in shares of Omnicom Group by 157.9% during the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after purchasing an additional 4,690 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after acquiring an additional 343 shares during the period. Fifth Third Bancorp grew its stake in shares of Omnicom Group by 13.9% during the 1st quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock valued at $618,000 after acquiring an additional 913 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Omnicom Group during the 1st quarter valued at approximately $1,357,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of Omnicom Group by 10.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider's stock valued at $6,755,000 after acquiring an additional 7,665 shares during the period. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analysts Set New Price Targets

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

Omnicom Group Trading Down 0.9%

OMC stock opened at $77.14 on Friday. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.54 and a beta of 0.97. The business has a 50 day simple moving average of $75.31 and a two-hundred day simple moving average of $75.61.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the company posted $1.95 EPS. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company 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. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.