Vise Technologies Inc. Buys New Holdings in Omnicom Group Inc. $OMC

Vise Technologies Inc. purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 20,017 shares of the business services provider’s stock, valued at approximately $1,458,000.

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

Omnicom Group Price Performance

Shares of NYSE OMC opened at $87.87 on Friday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $88.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The company’s 50-day moving average is $80.34 and its 200 day moving average is $77.57. The stock has a market capitalization of $24.11 billion, a P/E ratio of 75.75, a P/E/G ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last issued 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 return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business’s quarterly revenue was up 63.4% on a year-over-year basis. On average, sell-side analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. Omnicom Group’s dividend payout ratio is 275.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group began coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Wells Fargo & Company upped their price target on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $99.00.

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.