Oppenheimer Asset Management Inc. Makes New $9.15 Million Investment in Omnicom Group Inc. $OMC

Oppenheimer Asset Management Inc. purchased a new position in Omnicom Group Inc. (NYSE:OMC) in the second quarter, HoldingsChannel.com reports. The fund purchased 125,579 shares of the business services provider’s stock, valued at approximately $9,146,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wakefield Asset Management LLLP boosted its stake in shares of Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after purchasing an additional 149 shares during the last quarter. Caldwell Trust Co raised its position in shares of Omnicom Group by 29.0% in the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock valued at $50,000 after buying an additional 149 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of Omnicom Group by 39.1% in the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after buying an additional 153 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC lifted its stake in shares of Omnicom Group by 3.5% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock valued at $395,000 after buying an additional 167 shares during the period. Finally, Binnacle Investments Inc lifted its stake in shares of Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock valued at $81,000 after buying an additional 169 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on OMC. Wells Fargo & Company lifted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Morgan Stanley increased their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Rothschild & Co Redburn initiated coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Finally, Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Four 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $99.00.

Omnicom Group Price Performance

Omnicom Group stock opened at $87.45 on Friday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $88.55. The firm has a 50 day moving average price of $79.20 and a 200 day moving average price of $77.24. The company has a market cap of $23.99 billion, a price-to-earnings ratio of 75.39, a PEG ratio of 0.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results 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). The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The business’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Sell-side analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

Omnicom Group Company 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.