Zurcher Kantonalbank Zurich Cantonalbank Acquires 49,394 Shares of Omnicom Group Inc. (NYSE:OMC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 12.9% during the first quarter, HoldingsChannel reports. The firm owned 431,069 shares of the business services provider’s stock after buying an additional 49,394 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Omnicom Group were worth $35,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Finance LLC boosted its position in shares of Omnicom Group by 1.8% during the first quarter. Empirical Finance LLC now owns 18,906 shares of the business services provider’s stock worth $1,567,000 after purchasing an additional 328 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Omnicom Group by 18.1% during the first quarter. HB Wealth Management LLC now owns 6,242 shares of the business services provider’s stock worth $518,000 after purchasing an additional 956 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in shares of Omnicom Group by 8.5% during the first quarter. Applied Finance Capital Management LLC now owns 5,123 shares of the business services provider’s stock worth $425,000 after purchasing an additional 403 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in shares of Omnicom Group by 117.0% during the first quarter. Mediolanum International Funds Ltd now owns 31,488 shares of the business services provider’s stock worth $2,527,000 after purchasing an additional 16,980 shares in the last quarter. Finally, Robinson Value Management Ltd. boosted its position in shares of Omnicom Group by 0.4% during the first quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider’s stock worth $2,837,000 after purchasing an additional 139 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Down 0.8%

Shares of OMC stock opened at $76.41 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The firm’s fifty day moving average price is $72.72 and its two-hundred day moving average price is $77.59. The firm has a market capitalization of $14.80 billion, a P/E ratio of 10.96, a PEG ratio of 1.52 and a beta of 0.92.

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

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.66%. Omnicom Group’s payout ratio is currently 40.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OMC shares. Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Monday, June 23rd. JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Wells Fargo & Company cut their price objective on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Citigroup reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and a consensus target price of $94.43.

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.