Gradient Investments LLC Raises Stock Position in Omnicom Group Inc. (NYSE:OMC)

Gradient Investments LLC raised its stake in Omnicom Group Inc. (NYSE:OMC) by 15,916.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 961 shares of the business services provider’s stock after buying an additional 955 shares during the period. Gradient Investments LLC’s holdings in Omnicom Group were worth $86,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in OMC. Jacobs Levy Equity Management Inc. increased its holdings in Omnicom Group by 319.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after buying an additional 1,104,566 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $93,634,000. Morningstar Investment Services LLC grew its position in shares of Omnicom Group by 98.7% in the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock valued at $104,037,000 after purchasing an additional 595,746 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Omnicom Group by 88.9% in the fourth quarter. Point72 Asset Management L.P. now owns 1,161,477 shares of the business services provider’s stock valued at $100,479,000 after purchasing an additional 546,577 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $43,502,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, the director now owns 10,356 shares of the company’s stock, valued at $941,153.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Omnicom Group Trading Up 0.4 %

NYSE OMC traded up $0.38 during mid-day trading on Friday, reaching $96.58. 2,755,760 shares of the stock were exchanged, compared to its average volume of 1,617,773. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market capitalization of $18.91 billion, a PE ratio of 13.05, a PEG ratio of 2.24 and a beta of 0.95. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $98.71. The business’s fifty day simple moving average is $91.76 and its 200 day simple moving average is $92.06.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. Omnicom Group’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 earnings per share. On average, research analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Analyst Ratings Changes

Several research firms have recently commented on OMC. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. Macquarie reiterated an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, UBS Group increased their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus price target of $104.70.

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.