Peapack Gladstone Financial Corp Invests $3.60 Million in Omnicom Group Inc. $OMC

Peapack Gladstone Financial Corp purchased a new position in Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 44,608 shares of the business services provider’s stock, valued at approximately $3,602,000.

Several other large investors have also recently made changes to their positions in OMC. Activest Wealth Management raised its position in shares of Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after acquiring an additional 296 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Omnicom Group in the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new position in shares of Omnicom Group in the 4th quarter worth $26,000. Cornerstone Planning Group LLC raised its position in shares of Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 319 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID raised its position in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Trading Down 1.1%

Shares of NYSE:OMC opened at $75.16 on Wednesday. The business’s 50-day moving average is $75.49 and its 200 day moving average is $76.54. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The firm has a market capitalization of $21.42 billion, a P/E ratio of 192.72, a P/E/G ratio of 0.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the company posted $1.70 EPS. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, research analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. Omnicom Group’s dividend payout ratio is currently 820.51%.

Omnicom Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OMC. UBS Group boosted their price target on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Morgan Stanley upped their target price on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Citigroup reduced their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Omnicom Group currently has an average rating of “Hold” and an average price target of $99.00.

Omnicom Group Profile

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.