Gold Investment Management Ltd. Acquires 824 Shares of Omnicom Group Inc. $OMC

Gold Investment Management Ltd. grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 6.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,983 shares of the business services provider’s stock after purchasing an additional 824 shares during the quarter. Gold Investment Management Ltd.’s holdings in Omnicom Group were worth $1,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in Omnicom Group during the first quarter worth about $34,000. Gen Wealth Partners Inc bought a new position in shares of Omnicom Group in the first quarter valued at approximately $36,000. Versant Capital Management Inc boosted its position in shares of Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 143 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Omnicom Group in the first quarter valued at approximately $43,000. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on OMC. JPMorgan Chase & Co. cut their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Monday, June 23rd. Barclays lowered 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, Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.29.

Omnicom Group Trading Down 5.0%

Shares of Omnicom Group stock opened at $77.49 on Thursday. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The firm has a market cap of $15.01 billion, a PE ratio of 11.12, a PEG ratio of 1.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The company has a 50 day simple moving average of $76.31 and a two-hundred day simple moving average of $75.15.

Omnicom Group (NYSE:OMC) last announced its 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 business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the business posted $1.95 earnings per share. Omnicom Group’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s payout ratio is presently 40.17%.

Omnicom Group Company 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.