Manning & Napier Advisors LLC Buys New Holdings in Omnicom Group Inc. $OMC

Manning & Napier Advisors LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 43,206 shares of the business services provider’s stock, valued at approximately $3,194,000.

Several other large investors have also recently bought and sold shares of the business. Activest Wealth Management grew its position in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Omnicom Group in the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID raised 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 purchasing an additional 176 shares in the last quarter. EFG International AG purchased a new stake in Omnicom Group in the 4th quarter valued at approximately $28,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in Omnicom Group during the 2nd quarter worth approximately $25,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.8%

Shares of NYSE:OMC opened at $88.23 on Wednesday. The company has a 50 day moving average of $80.81 and a 200-day moving average of $77.86. 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 firm has a market cap of $24.21 billion, a P/E ratio of 76.06, a P/E/G ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57.

Omnicom Group (NYSE:OMC) last posted 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). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the business earned $2.05 EPS. Omnicom Group’s revenue was up 63.4% compared to the same quarter last year. As a group, analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders 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 yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is presently 275.86%.

Analyst Ratings Changes

Several research analysts have weighed in on OMC shares. 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 initiated coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Citigroup lowered their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $99.00.

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.