Omnicom Group Inc. (NYSE:OMC) Stock Position Raised by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in Omnicom Group Inc. (NYSE:OMC) by 1.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,304 shares of the business services provider’s stock after buying an additional 177 shares during the quarter. Ritholtz Wealth Management’s holdings in Omnicom Group were worth $1,642,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Omnicom Group by 8,551.1% during the 4th quarter. International Assets Investment Management LLC now owns 7,959 shares of the business services provider’s stock worth $689,000 after purchasing an additional 7,867 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Omnicom Group during the fourth quarter valued at about $208,000. Great Valley Advisor Group Inc. raised its holdings in Omnicom Group by 2.6% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,955 shares of the business services provider’s stock valued at $428,000 after buying an additional 124 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Omnicom Group by 55.3% in the fourth quarter. First Trust Direct Indexing L.P. now owns 5,099 shares of the business services provider’s stock worth $441,000 after buying an additional 1,815 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in shares of Omnicom Group by 5.0% during the 4th quarter. Natixis Advisors L.P. now owns 160,276 shares of the business services provider’s stock worth $13,865,000 after acquiring an additional 7,671 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insiders Place Their Bets

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

Omnicom Group Price Performance

NYSE:OMC opened at $100.43 on Tuesday. 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 Inc. has a one year low of $72.20 and a one year high of $100.61. The company has a fifty day moving average price of $93.61 and a 200 day moving average price of $92.94. The stock has a market cap of $19.65 billion, a P/E ratio of 13.57, a PEG ratio of 2.36 and a beta of 0.95.

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 the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Omnicom Group Inc. will post 7.95 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.79%. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OMC. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. UBS Group lifted their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Macquarie reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $104.70.

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.