OneDigital Investment Advisors LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,361 shares of the business services provider’s stock, valued at approximately $609,000.
Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 in the last quarter. Gamco Investors INC. ET AL bought a new stake in Omnicom Group in the second quarter valued at about $241,000. Gabelli Funds LLC bought a new stake in Omnicom Group in the second quarter valued at about $1,061,000. Daiwa Securities Group Inc. raised its position in 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 worth $2,113,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after purchasing an additional 44,746 shares during the period. 91.97% of the stock is currently owned by institutional investors.
Omnicom Group Price Performance
Shares of Omnicom Group stock opened at $86.40 on Wednesday. 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 stock has a market capitalization of $23.70 billion, a price-to-earnings ratio of 74.49, a P/E/G ratio of 0.58 and a beta of 0.64. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $88.55. The firm’s 50-day moving average price is $79.62 and its two-hundred day moving average price is $77.34.
Omnicom Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.7%. Omnicom Group’s payout ratio is presently 275.86%.
Analyst Ratings Changes
OMC has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Citigroup cut their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Rothschild & Co Redburn started coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Hold” and an average target price of $99.00.
Read Our Latest Analysis on Omnicom Group
Omnicom Group 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.
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