Jupiter Topco LLC Takes $2.43 Million Position in Omnicom Group Inc. $OMC

Jupiter Topco LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 33,400 shares of the business services provider’s stock, valued at approximately $2,432,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wakefield Asset Management LLLP boosted its position in shares of Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after purchasing an additional 149 shares in the last quarter. Caldwell Trust Co increased its holdings in shares of Omnicom Group by 29.0% in the 1st quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 149 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Omnicom Group by 39.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. Binnacle Investments Inc lifted its stake in shares of Omnicom Group by 17.7% in the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 169 shares during the period. Finally, Legacy Wealth Managment LLC ID boosted its holdings in 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 buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 1,385 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $81.76 on Thursday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57. The stock has a market cap of $22.43 billion, a P/E ratio of 70.48, a PEG ratio of 0.74 and a beta of 0.65. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $82.42 and a two-hundred day moving average of $78.56.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The firm’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, research analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal 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 issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is 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.