Moran Wealth Management LLC Acquires New Shares in Omnicom Group Inc. (NYSE:OMC)

Moran Wealth Management LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,060 shares of the business services provider’s stock, valued at approximately $6,306,000.

A number of other large investors have also recently added to or reduced their stakes in OMC. Asset Management One Co. Ltd. lifted its stake in Omnicom Group by 10.4% during the first quarter. Asset Management One Co. Ltd. now owns 81,474 shares of the business services provider’s stock worth $6,755,000 after purchasing an additional 7,665 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in Omnicom Group by 1.9% during the first quarter. GHP Investment Advisors Inc. now owns 66,996 shares of the business services provider’s stock worth $5,555,000 after purchasing an additional 1,238 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Omnicom Group during the first quarter worth $1,357,000. Oppenheimer Asset Management Inc. acquired a new position in Omnicom Group during the first quarter worth $7,828,000. Finally, Center for Financial Planning Inc. lifted its stake in Omnicom Group by 2.2% during the first quarter. Center for Financial Planning Inc. now owns 9,168 shares of the business services provider’s stock worth $760,000 after purchasing an additional 197 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE:OMC opened at $72.47 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 0.87. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The firm has a market capitalization of $14.14 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93. The business’s fifty day moving average price is $73.63 and its 200 day moving average price is $79.94.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm 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 dividend of $0.70 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.86%. Omnicom Group’s dividend payout ratio (DPR) is 38.30%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Monday. Barclays cut their price objective on Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Citigroup reaffirmed a “buy” rating and set a $103.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 15th. Finally, UBS Group cut their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average target price of $100.00.

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.