Councilmark Asset Management LLC Acquires Shares of 10,106 Omnicom Group Inc. $OMC

Councilmark Asset Management LLC bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,106 shares of the business services provider’s stock, valued at approximately $736,000.

A number of other hedge funds have also recently made changes to their positions in OMC. Jupiter Topco LLC purchased a new position in Omnicom Group in the 2nd quarter worth about $2,432,000. Hsbc Holdings PLC purchased a new stake in Omnicom Group in the 2nd quarter valued at about $66,995,000. Canada Pension Plan Investment Board purchased a new stake in Omnicom Group in the 2nd quarter valued at about $6,802,000. Legal & General Group Plc bought a new position in Omnicom Group in the 2nd quarter worth about $94,114,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Omnicom Group during the second quarter worth approximately $20,426,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

NYSE OMC opened at $88.23 on Wednesday. The company has a market cap of $24.21 billion, a PE ratio of 76.06, a P/E/G ratio of 0.59 and a beta of 0.64. The firm’s 50 day moving average price is $80.81 and its 200-day moving average price is $77.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57.

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 business had revenue of $6.56 billion during 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 business’s quarterly revenue was up 63.4% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. Sell-side analysts forecast that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is 275.86%.

Wall Street Analyst Weigh In

OMC has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Wells Fargo & Company raised their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Finally, Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Four equities research 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. According to MarketBeat.com, Omnicom Group has an average rating of “Hold” and an average target price of $99.00.

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.