Van ECK Associates Corp Boosts Stock Position in Omnicom Group Inc. $OMC

Van ECK Associates Corp raised its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 54.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,227 shares of the business services provider's stock after purchasing an additional 41,466 shares during the quarter. Van ECK Associates Corp's holdings in Omnicom Group were worth $8,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in OMC. EverSource Wealth Advisors LLC boosted its holdings in shares of Omnicom Group by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider's stock worth $138,000 after buying an additional 869 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Omnicom Group during the second quarter worth about $241,000. Gabelli Funds LLC bought a new stake in Omnicom Group in the second quarter worth about $1,061,000. Daiwa Securities Group Inc. raised its position in Omnicom Group by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider's stock worth $2,113,000 after acquiring an additional 1,482 shares during the period. Finally, Sei Investments Co. boosted its stake in Omnicom Group by 14.1% in the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider's stock valued at $25,990,000 after acquiring an additional 44,746 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OMC. Citigroup reduced their target price on shares of Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a "neutral" rating and a $89.00 price objective on the stock. The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 price objective for the company. Weiss Ratings raised Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company boosted their target price on Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $99.00.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of Omnicom Group stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares of the company's stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

Omnicom Group Stock Down 1.8%

OMC opened at $85.93 on Wednesday. The company has a 50 day moving average of $82.27 and a 200 day moving average of $78.46. The company has a market cap of $23.57 billion, a PE ratio of 74.08, a price-to-earnings-growth ratio of 0.58 and a beta of 0.65. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company's revenue was up 63.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, sell-side analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.7%. Omnicom Group's dividend payout ratio (DPR) is currently 275.86%.

Omnicom Group Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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