Optimist Retirement Group LLC Purchases 416 Shares of Omnicom Group Inc. (NYSE:OMC)

Optimist Retirement Group LLC lifted its position in Omnicom Group Inc. (NYSE:OMC) by 17.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,802 shares of the business services provider’s stock after acquiring an additional 416 shares during the period. Optimist Retirement Group LLC’s holdings in Omnicom Group were worth $232,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 143 shares in the last quarter. MGO One Seven LLC grew its position in Omnicom Group by 3.2% during the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider’s stock worth $437,000 after purchasing an additional 157 shares during the last quarter. Mezzasalma Advisors LLC grew its position in Omnicom Group by 3.1% during the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider’s stock worth $443,000 after purchasing an additional 159 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in Omnicom Group by 0.8% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider’s stock worth $1,834,000 after purchasing an additional 165 shares during the last quarter. Finally, Center for Financial Planning Inc. grew its position in Omnicom Group by 2.2% during the 1st 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 during the last quarter. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on OMC. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Wells Fargo & Company decreased their target price on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research note on Wednesday. Citigroup reiterated a “buy” rating and issued a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday, June 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.43.

Omnicom Group Trading Up 0.3%

NYSE:OMC opened at $71.08 on Friday. The company has a market capitalization of $13.77 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.41 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $107.00. The stock has a fifty day simple moving average of $72.86 and a 200-day simple moving average of $77.98.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the business earned $1.95 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.94%. Omnicom Group’s payout ratio is currently 40.17%.

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.