Omnicom Group Inc. $OMC Holdings Lowered by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,456 shares of the business services provider’s stock after selling 8,704 shares during the period. Modera Wealth Management LLC’s holdings in Omnicom Group were worth $18,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in OMC. Assetmark Inc. increased its stake in shares of Omnicom Group by 8.0% during the first quarter. Assetmark Inc. now owns 931,933 shares of the business services provider’s stock valued at $70,184,000 after acquiring an additional 69,154 shares during the period. Prosperity Consulting Group LLC lifted its position in Omnicom Group by 32.1% in the first quarter. Prosperity Consulting Group LLC now owns 7,455 shares of the business services provider’s stock worth $561,000 after purchasing an additional 1,810 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Omnicom Group in the first quarter worth approximately $6,562,000. Wealthfront Advisers LLC lifted its position in Omnicom Group by 4.9% in the first quarter. Wealthfront Advisers LLC now owns 34,964 shares of the business services provider’s stock worth $2,633,000 after purchasing an additional 1,636 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in Omnicom Group by 2.2% during the 1st quarter. D.A. Davidson & CO. now owns 11,400 shares of the business services provider’s stock valued at $859,000 after purchasing an additional 245 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OMC. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. UBS Group upped their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $99.38.

Omnicom Group Trading Down 2.9%

Shares of NYSE:OMC opened at $81.72 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 stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 209.53, a PEG ratio of 0.50 and a beta of 0.63. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The company has a 50 day moving average price of $75.79 and a 200 day moving average price of $76.81.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company earned $1.70 earnings per share. The firm’s revenue was up 69.2% on a year-over-year basis. On average, research analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. Omnicom Group’s payout ratio is 820.51%.

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.