NewEdge Advisors LLC Raises Stock Holdings in Omnicom Group Inc. $OMC

NewEdge Advisors LLC boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 27.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,040 shares of the business services provider’s stock after buying an additional 12,425 shares during the quarter. NewEdge Advisors LLC’s holdings in Omnicom Group were worth $4,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management raised its stake in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Omnicom Group in the fourth quarter worth about $26,000. Elyxium Wealth LLC purchased a new position in Omnicom Group during the 4th quarter valued at about $26,000. Legacy Wealth Managment LLC ID increased its holdings in Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. Finally, EFG International AG bought a new position in Omnicom Group during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OMC. Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective on the stock. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Citigroup dropped 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 company an “equal weight” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group started coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Trading Up 1.5%

NYSE OMC opened at $85.96 on Wednesday. The firm has a market capitalization of $23.58 billion, a PE ratio of 74.10, a P/E/G ratio of 0.56 and a beta of 0.64. The stock’s 50 day moving average is $78.46 and its 200 day moving average is $77.07. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.41. 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 announced its quarterly earnings data 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 firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the business posted $2.05 EPS. The business’s quarterly revenue was up 63.4% compared to the same quarter last year. Research analysts forecast that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is 275.86%.

Omnicom Group Profile

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.