Zurcher Kantonalbank Zurich Cantonalbank Acquires 49,394 Shares of Omnicom Group Inc. (NYSE:OMC)

Key Points

• Zurcher Kantonalbank increased its stake in Omnicom Group by 12.9%, acquiring an additional 49,394 shares, bringing its total holdings to 431,069 shares valued at $35.74 million.
• Several institutional investors, including Massachusetts Financial Services and Pacer Advisors, significantly raised their positions in Omnicom Group, highlighting strong interest from the investment community.
• Omnicom Group recently reported earnings of $2.05 per share, exceeding estimates, and will pay a quarterly dividend of $0.70, reflecting a 3.66% yield for shareholders.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 12.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 431,069 shares of the business services provider's stock after acquiring an additional 49,394 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.22% of Omnicom Group worth $35,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Robinson Value Management Ltd. increased its position in Omnicom Group by 0.4% in the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock valued at $2,837,000 after acquiring an additional 139 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 valued at $38,000 after purchasing an additional 143 shares during the last quarter. MGO One Seven LLC boosted its stake in shares of Omnicom Group by 3.2% in the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider's stock valued at $437,000 after purchasing an additional 157 shares during the last quarter. Mezzasalma Advisors LLC boosted its stake in shares of Omnicom Group by 3.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock valued at $443,000 after purchasing an additional 159 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in shares of Omnicom Group by 0.8% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock valued at $1,834,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Down 0.5%

OMC traded down $0.35 during trading on Thursday, reaching $72.30. The company had a trading volume of 1,112,800 shares, compared to its average volume of 3,641,008. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The business's fifty day moving average price is $72.62 and its 200 day moving average price is $77.49. The company has a market cap of $14.01 billion, a P/E ratio of 10.37, a PEG ratio of 1.48 and a beta of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the firm posted $1.95 earnings per share. The business's revenue was up 4.2% on a year-over-year basis. Equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. JPMorgan Chase & Co. reduced their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Citigroup restated a "buy" rating and set a $103.00 price objective on shares of Omnicom Group in a report on Tuesday, April 15th. Finally, Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $94.43.

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.