Oppenheimer Asset Management Inc. Purchases Shares of 94,420 Omnicom Group Inc. (NYSE:OMC)

Oppenheimer Asset Management Inc. purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 94,420 shares of the business services provider’s stock, valued at approximately $7,828,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock valued at $513,922,000 after acquiring an additional 1,992,695 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Omnicom Group during the fourth quarter valued at approximately $150,819,000. FMR LLC increased its holdings in shares of Omnicom Group by 250.1% during the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock valued at $172,987,000 after acquiring an additional 1,436,231 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Omnicom Group by 91.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock valued at $184,730,000 after acquiring an additional 1,027,567 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Omnicom Group during the fourth quarter valued at approximately $79,321,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Citigroup restated a “buy” rating and set a $103.00 price objective on shares of Omnicom Group in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Omnicom Group Trading Up 1.1%

Shares of Omnicom Group stock opened at $72.47 on Wednesday. The stock has a fifty day simple moving average of $73.63 and a 200 day simple moving average of $79.94. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The company has a market capitalization of $14.14 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The firm 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 34.85% and a net margin of 9.20%. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.86%. Omnicom Group’s dividend payout ratio (DPR) is presently 38.30%.

Omnicom Group 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.