LSV Asset Management decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 31.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 273,600 shares of the business services provider’s stock after selling 128,100 shares during the period. LSV Asset Management’s holdings in Omnicom Group were worth $20,287,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in shares of Omnicom Group by 1.5% in the first quarter. Parallel Advisors LLC now owns 8,865 shares of the business services provider’s stock valued at $657,000 after purchasing an additional 127 shares during the period. Global Retirement Partners LLC increased its stake in shares of Omnicom Group by 3.1% in the first quarter. Global Retirement Partners LLC now owns 4,668 shares of the business services provider’s stock valued at $346,000 after purchasing an additional 141 shares during the period. Resonant Capital Advisors LLC increased its stake in shares of Omnicom Group by 3.5% in the first quarter. Resonant Capital Advisors LLC now owns 4,241 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 143 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Omnicom Group by 36.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 602 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 162 shares during the period. Finally, Montag A & Associates Inc. increased its stake in shares of Omnicom Group by 0.8% in the fourth quarter. Montag A & Associates Inc. now owns 20,416 shares of the business services provider’s stock valued at $1,273,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.
Several brokerages have commented on OMC. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Wednesday, April 28th. Wells Fargo & Company raised their price objective on shares of Omnicom Group from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 21st. Macquarie upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $76.00 to $93.00 in a research note on Monday. Finally, BMO Capital Markets raised their price objective on shares of Omnicom Group from $68.00 to $80.00 and gave the company a “market perform” rating in a research note on Thursday, April 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Omnicom Group presently has an average rating of “Buy” and a consensus price target of $75.50.
Shares of NYSE:OMC opened at $83.74 on Wednesday. The stock has a market capitalization of $18.01 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.58 and a beta of 0.87. Omnicom Group Inc. has a 1-year low of $44.50 and a 1-year high of $86.38. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.88 and a current ratio of 0.98. The company has a 50 day moving average price of $79.31 and a 200 day moving average price of $67.57.
Omnicom Group (NYSE:OMC) last issued its earnings results on Monday, April 19th. The business services provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.20. Omnicom Group had a net margin of 7.10% and a return on equity of 36.90%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same period last year, the firm posted $1.19 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts expect that Omnicom Group Inc. will post 4.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Friday, June 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, June 10th. Omnicom Group’s dividend payout ratio is 46.20%.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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