Cerro Pacific Wealth Advisors LLC Purchases 207 Shares of Omnicom Group Inc. (NYSE:OMC)

Cerro Pacific Wealth Advisors LLC grew its position in Omnicom Group Inc. (NYSE:OMC) by 3.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,088 shares of the business services provider’s stock after acquiring an additional 207 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Omnicom Group were worth $524,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in Omnicom Group by 50.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock worth $513,922,000 after purchasing an additional 1,992,695 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Omnicom Group during the 4th quarter worth $150,819,000. FMR LLC raised its position in Omnicom Group by 250.1% during the 4th quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock worth $172,987,000 after purchasing an additional 1,436,231 shares during the last quarter. JPMorgan Chase & Co. raised its position in Omnicom Group by 91.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock worth $184,730,000 after purchasing an additional 1,027,567 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Omnicom Group during the 4th quarter worth $79,321,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $73.39 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $75.51 and a two-hundred day moving average price of $83.67. Omnicom Group Inc. has a 1-year low of $69.13 and a 1-year high of $107.00. The company has a market cap of $14.32 billion, a P/E ratio of 9.85, a PEG ratio of 1.94 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued 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 company 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, analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.82%. Omnicom Group’s dividend payout ratio is presently 38.30%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OMC shares. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Citigroup reaffirmed a “buy” rating and set a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. UBS Group decreased their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price target on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Barclays decreased their price target on Omnicom Group from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.29.

Omnicom Group Company Profile

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.