Legacy Capital Wealth Partners LLC Makes New Investment in Omnicom Group Inc. (NYSE:OMC)

Legacy Capital Wealth Partners LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,687 shares of the business services provider’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in Omnicom Group in the 4th quarter worth about $26,000. Richardson Financial Services Inc. purchased a new position in shares of Omnicom Group during the 4th quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group in the second quarter worth approximately $33,000. Innealta Capital LLC purchased a new stake in Omnicom Group in the second quarter valued at approximately $33,000. Finally, First United Bank & Trust purchased a new stake in Omnicom Group in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC stock opened at $98.75 on Thursday. The company’s fifty day simple moving average is $94.00 and its 200-day simple moving average is $93.06. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $102.13. The company has a market cap of $19.32 billion, a PE ratio of 13.34, a P/E/G ratio of 2.36 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Macquarie reiterated an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a report on Wednesday, July 17th. UBS Group increased their target price on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.