Omnicom Group Inc. $OMC Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC boosted its position in Omnicom Group Inc. (NYSE:OMC) by 18.9% during the 2nd quarter, Holdings Channel reports. The fund owned 14,629 shares of the business services provider’s stock after acquiring an additional 2,330 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Omnicom Group were worth $1,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Robinson Value Management Ltd. raised its holdings in Omnicom Group by 0.4% during the first quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider’s stock worth $2,837,000 after purchasing an additional 139 shares in the last quarter. Versant Capital Management Inc raised its holdings in Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock worth $38,000 after purchasing an additional 143 shares in the last quarter. Mezzasalma Advisors LLC raised its holdings in Omnicom Group by 3.1% during the first quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider’s stock worth $443,000 after purchasing an additional 159 shares in the last quarter. Financial Advisors Network Inc. raised its holdings in Omnicom Group by 6.1% during the first quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock worth $228,000 after purchasing an additional 159 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in Omnicom Group by 0.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider’s stock worth $1,834,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $77.59 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The firm has a market cap of $15.03 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.50 and a beta of 0.96. The company’s 50 day simple moving average is $76.33 and its 200-day simple moving average is $75.10. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the firm posted $1.95 EPS. Omnicom Group’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio (DPR) is 40.17%.

Analyst Ratings Changes

A number of research firms have weighed in on OMC. JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Saturday, September 27th. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Monday, June 23rd. Finally, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.29.

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.