Grove Bank & Trust increased its stake in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 4,065.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,290 shares of the business services provider’s stock after acquiring an additional 8,091 shares during the quarter. Grove Bank & Trust’s holdings in Omnicom Group were worth $604,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of OMC. Activest Wealth Management grew its position in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd bought a new position in shares of Omnicom Group during the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID raised its position in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Finally, EFG International AG bought a new stake in shares of Omnicom Group in the fourth quarter valued at about $28,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
OMC has been the topic of a number of recent research reports. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Morgan Stanley upped their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. 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. Finally, Citigroup decreased their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $99.00.
Omnicom Group Trading Down 0.1%
Shares of OMC stock opened at $81.76 on Thursday. The firm has a fifty day moving average of $77.66 and a 200-day moving average of $76.91. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 70.48, a P/E/G ratio of 0.54 and a beta of 0.64. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.41. 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 – Get Free Report) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. Omnicom Group’s revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. On average, equities research analysts forecast that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.
Omnicom Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders 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 dividend on an annualized basis and a yield of 3.9%. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.
About Omnicom Group
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.
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