Wealthfront Advisers LLC Purchases Shares of 33,382 Omnicom Group Inc. $OMC

Wealthfront Advisers LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 33,382 shares of the business services provider’s stock, valued at approximately $2,431,000.

Other institutional investors also recently made changes to their positions in the company. Wakefield Asset Management LLLP lifted its holdings in Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock worth $477,000 after purchasing an additional 149 shares during the last quarter. Caldwell Trust Co grew its holdings in Omnicom Group by 29.0% in the 1st quarter. Caldwell Trust Co now owns 662 shares of the business services provider’s stock valued at $50,000 after buying an additional 149 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in Omnicom Group by 39.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider’s stock valued at $41,000 after buying an additional 153 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC increased its position in Omnicom Group by 3.5% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock worth $395,000 after buying an additional 167 shares during the period. Finally, Binnacle Investments Inc increased its position in Omnicom Group by 17.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after buying an additional 169 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OMC shares. Citigroup reduced their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $87.02 on Friday. The business has a fifty day moving average price of $80.11 and a two-hundred day moving average price of $77.50. The stock has a market capitalization of $23.87 billion, a PE ratio of 75.02, a P/E/G ratio of 0.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $88.55.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the company posted $2.05 earnings per share. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, equities analysts predict that Omnicom Group Inc. will post 10.35 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 Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

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.