Oppenheimer & Co. Inc. Sells 9,356 Shares of Omnicom Group Inc. $OMC

Oppenheimer & Co. Inc. lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 55.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,528 shares of the business services provider’s stock after selling 9,356 shares during the period. Oppenheimer & Co. Inc.’s holdings in Omnicom Group were worth $608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 869 shares during the period. Gamco Investors INC. ET AL bought a new position in Omnicom Group in the 2nd quarter worth approximately $241,000. Gabelli Funds LLC bought a new position in Omnicom Group in the 2nd quarter worth approximately $1,061,000. Daiwa Securities Group Inc. grew its holdings in Omnicom Group by 5.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after buying an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Omnicom Group by 14.1% during the 2nd quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after buying an additional 44,746 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OMC shares. Argus raised shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Barclays raised their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Citigroup decreased their price target 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. Morgan Stanley increased their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, UBS Group raised their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.71.

Omnicom Group Stock Up 0.2%

NYSE OMC opened at $77.04 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The company has a market capitalization of $21.96 billion, a P/E ratio of 197.55, a P/E/G ratio of 0.46 and a beta of 0.66. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The stock has a 50 day moving average price of $78.07 and a 200-day moving average price of $76.78.

Omnicom Group (NYSE:OMC) last posted 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. The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. Omnicom Group’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the firm posted $1.70 earnings per share. As a group, equities analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. Omnicom Group’s payout ratio is 820.51%.

Omnicom Group declared that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.