Manning & Napier Advisors LLC Takes Position in Omnicom Group Inc. $OMC

Manning & Napier Advisors LLC purchased a new position in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 43,206 shares of the business services provider’s stock, valued at approximately $3,194,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Omnicom Group by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after buying an additional 869 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Omnicom Group in the second quarter worth approximately $241,000. Gabelli Funds LLC bought a new position in Omnicom Group during the second quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. raised its position in Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. lifted 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 Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup decreased their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Morgan Stanley boosted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Wells Fargo & Company increased their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Zacks Research cut shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Price Performance

NYSE:OMC opened at $88.23 on Wednesday. The firm has a market cap of $24.21 billion, a PE ratio of 76.06, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The company’s 50-day moving average price is $80.81 and its two-hundred day moving average price is $77.86. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm’s revenue was up 63.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

About Omnicom Group

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.