Assetmark Inc. Has $70.18 Million Position in Omnicom Group Inc. $OMC

Assetmark Inc. grew its stake in Omnicom Group Inc. (NYSE:OMC) by 8.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 931,933 shares of the business services provider’s stock after acquiring an additional 69,154 shares during the period. Assetmark Inc.’s holdings in Omnicom Group were worth $70,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of OMC. Activest Wealth Management increased its stake in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the 4th quarter worth approximately $26,000. Legacy Wealth Managment LLC ID increased its holdings in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the period. Finally, EFG International AG bought a new position in shares of Omnicom Group during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Down 2.9%

NYSE:OMC opened at $81.72 on Friday. The firm’s 50 day simple moving average is $75.79 and its 200 day simple moving average is $76.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company has a market cap of $23.29 billion, a PE ratio of 209.53, a P/E/G ratio of 0.50 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm posted $1.70 EPS. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. Omnicom Group’s dividend payout ratio is 820.51%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Argus upgraded Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. UBS Group upped their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.38.

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.