GAMMA Investing LLC Raises Stake in Omnicom Group Inc. (NYSE:OMC)

GAMMA Investing LLC increased its stake in Omnicom Group Inc. (NYSE:OMC) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,662 shares of the business services provider’s stock after purchasing an additional 364 shares during the quarter. GAMMA Investing LLC’s holdings in Omnicom Group were worth $418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Partners increased its holdings in Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after buying an additional 383,560 shares in the last quarter. Cetera Advisors LLC increased its stake in Omnicom Group by 420.6% in the 1st quarter. Cetera Advisors LLC now owns 24,463 shares of the business services provider’s stock valued at $2,367,000 after purchasing an additional 19,764 shares in the last quarter. Cetera Investment Advisers raised its holdings in Omnicom Group by 197.4% during the first quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock worth $12,338,000 after purchasing an additional 84,632 shares during the last quarter. PGGM Investments boosted its position in Omnicom Group by 1.7% during the first quarter. PGGM Investments now owns 35,811 shares of the business services provider’s stock worth $3,465,000 after purchasing an additional 613 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in Omnicom Group by 19.8% in the first quarter. Atria Investments Inc now owns 17,580 shares of the business services provider’s stock valued at $1,701,000 after purchasing an additional 2,909 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OMC shares. UBS Group lifted their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. JPMorgan Chase & Co. increased their price target on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Macquarie restated an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, Moffett Nathanson increased their target price on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

Omnicom Group Trading Down 3.0 %

Shares of Omnicom Group stock traded down $2.85 during trading hours on Friday, reaching $92.00. 1,867,755 shares of the company’s stock were exchanged, compared to its average volume of 1,915,319. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $98.71. The company has a fifty day moving average of $91.43 and a 200-day moving average of $91.82. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released 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. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 earnings per share. Sell-side analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. Omnicom Group’s payout ratio is 37.84%.

Insider Buying and Selling

In other Omnicom Group 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 transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

About Omnicom Group

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.