Grove Bank & Trust Has $604,000 Position in Omnicom Group Inc. $OMC

Grove Bank & Trust raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 4,065.8% in the second quarter, Holdings Channel reports. The fund owned 8,290 shares of the business services provider’s stock after acquiring an additional 8,091 shares during the period. Grove Bank & Trust’s holdings in Omnicom Group were worth $604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management grew its holdings 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 purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd bought a new position in Omnicom Group during the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in Omnicom Group in the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID boosted its position in Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares in the last quarter. Finally, EFG International AG bought a new stake in Omnicom Group during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.1%

Shares of OMC opened at $81.76 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.41. The firm has a market capitalization of $22.43 billion, a PE ratio of 70.48, a price-to-earnings-growth ratio of 0.54 and a beta of 0.64. The stock’s fifty day simple moving average is $77.66 and its 200-day simple moving average is $76.91.

Omnicom Group (NYSE:OMC) last posted its quarterly 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). The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. Omnicom Group’s revenue was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 EPS. As a group, research analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. Omnicom Group’s dividend payout ratio is presently 275.86%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. The Goldman Sachs Group started coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Citigroup decreased their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Morgan Stanley raised their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and a consensus 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.