BTS Asset Management Inc. Purchases New Shares in Omnicom Group Inc. (NYSE:OMC)

BTS Asset Management Inc. acquired a new stake in Omnicom Group Inc. (NYSE:OMC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,739 shares of the business services provider’s stock, valued at approximately $227,000. Omnicom Group makes up about 0.3% of BTS Asset Management Inc.’s holdings, making the stock its 26th biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings 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 in the last quarter. Smartleaf Asset Management LLC lifted its position in Omnicom Group by 13.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock worth $105,000 after purchasing an additional 147 shares during the period. MGO One Seven LLC increased its holdings in Omnicom Group by 3.2% in the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider’s stock valued at $437,000 after buying an additional 157 shares during the period. Convergence Financial LLC raised its position in shares of Omnicom Group by 6.5% in the 4th quarter. Convergence Financial LLC now owns 2,694 shares of the business services provider’s stock valued at $232,000 after buying an additional 165 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Omnicom Group by 146.6% during the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 195 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

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

Omnicom Group Trading Down 3.0%

NYSE OMC opened at $71.13 on Friday. Omnicom Group Inc. has a 12 month low of $69.13 and a 12 month high of $107.00. 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 firm has a market capitalization of $13.88 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. The business’s 50-day moving average price is $74.32 and its two-hundred day moving average price is $81.97.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. On average, analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.94%. Omnicom Group’s dividend payout ratio is currently 38.30%.

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.