Legacy Financial Advisors Inc. Has $358,000 Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Legacy Financial Advisors Inc. lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 39.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,993 shares of the business services provider’s stock after selling 2,588 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Omnicom Group were worth $358,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new position in Omnicom Group in the fourth quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Omnicom Group during the 2nd quarter worth approximately $33,000. Innealta Capital LLC acquired a new position in Omnicom Group during the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in Omnicom Group by 47.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in Omnicom Group in the first quarter valued at approximately $50,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. UBS Group lifted their target price on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Macquarie reissued an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.30.

Omnicom Group Stock Performance

OMC opened at $102.30 on Friday. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 2.27 and a beta of 0.94. The business’s 50-day moving average price is $96.52 and its two-hundred day moving average price is $94.06. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $104.80. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. Omnicom Group’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. Equities analysts expect that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is presently 37.84%.

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.