Hudson Portfolio Management LLC purchased a new position in Omnicom Group Inc. (NYSE:OMC – Free Report) during the second quarter, Holdings Channel.com reports. The firm purchased 9,410 shares of the business services provider’s stock, valued at approximately $685,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Omnicom Group in the 2nd quarter worth about $241,000. Gabelli Funds LLC acquired a new position in Omnicom Group in the 2nd quarter worth about $1,061,000. Daiwa Securities Group Inc. raised its stake in shares of Omnicom Group by 5.3% during the 2nd 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. raised its stake in shares of Omnicom Group by 14.1% during the 2nd 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 in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.
Omnicom Group Stock Up 0.9%
Shares of OMC stock opened at $87.87 on Friday. The stock’s 50 day simple moving average is $80.34 and its 200 day simple moving average is $77.57. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $88.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The company has a market capitalization of $24.11 billion, a price-to-earnings ratio of 75.75, a PEG ratio of 0.58 and a beta of 0.64.
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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s payout ratio is presently 275.86%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on OMC. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Morgan Stanley raised their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Wells Fargo & Company lifted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Zacks Research downgraded shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $99.00.
Get Our Latest Stock Report on OMC
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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