Procyon Advisors LLC Takes $1.78 Million Position in Omnicom Group Inc. (NYSE:OMC)

Procyon Advisors LLC acquired a new position in Omnicom Group Inc. (NYSE:OMC) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 22,876 shares of the business services provider’s stock, valued at approximately $1,776,000.

Several other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its stake in shares of Omnicom Group by 146.6% in the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 195 shares during the period. Johnson Financial Group Inc. grew its holdings in Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Versant Capital Management Inc increased its position in Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 143 shares during the period. CoreCap Advisors LLC raised its stake in Omnicom Group by 708.8% during the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 404 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of Omnicom Group by 194.6% during the fourth quarter. Whittier Trust Co. now owns 489 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 323 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $71.43 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The company has a market capitalization of $13.94 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. The stock has a fifty day moving average of $74.51 and a 200-day moving average of $82.79. Omnicom Group Inc. has a one year low of $69.13 and a one year high of $107.00.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. As a group, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s payout ratio is 38.30%.

Analysts Set New Price Targets

Several research firms have recently issued reports on OMC. Argus cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company decreased their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. UBS Group cut their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, Citigroup reaffirmed a “buy” rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.29.

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.