Empowered Funds LLC Has $22.52 Million Holdings in Omnicom Group Inc. $OMC

Empowered Funds LLC raised its position in Omnicom Group Inc. (NYSE:OMC) by 39.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,179 shares of the business services provider’s stock after purchasing an additional 87,798 shares during the quarter. Empowered Funds LLC owned 0.11% of Omnicom Group worth $22,518,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in Omnicom Group by 82.9% in 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 acquired a new position in Omnicom Group during the 2nd quarter worth approximately $241,000. Gabelli Funds LLC bought a new position in shares of Omnicom Group during the 2nd quarter worth approximately $1,061,000. Daiwa Securities Group Inc. raised its holdings 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 purchasing an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. raised its holdings 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 purchasing an additional 44,746 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OMC. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Morgan Stanley lifted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Citigroup decreased their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Price Performance

NYSE:OMC opened at $87.78 on Friday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $81.37 and a 200 day simple moving average of $78.12. The stock has a market capitalization of $24.08 billion, a PE ratio of 75.68, a P/E/G ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Omnicom Group’s quarterly revenue was up 63.4% on a year-over-year basis. On average, research analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current fiscal 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 paid a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. Omnicom Group’s payout ratio is currently 275.86%.

Insider Activity

In related news, Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

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.