Foundations Investment Advisors LLC grew its stake in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 31.8% in the second quarter, Holdings Channel reports. The fund owned 4,500 shares of the business services provider’s stock after acquiring an additional 1,085 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Omnicom Group were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlas Capital Advisors LLC grew its position in shares of Omnicom Group by 6,720.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 341 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 336 shares during the period. Carl Stuart Investment Advisor Inc. bought a new position in Omnicom Group in the 1st quarter worth approximately $34,000. Independence Bank of Kentucky bought a new position in Omnicom Group in the 1st quarter worth approximately $37,000. MV Capital Management Inc. boosted its holdings in Omnicom Group by 63.2% in the 1st quarter. MV Capital Management Inc. now owns 444 shares of the business services provider’s stock worth $38,000 after buying an additional 172 shares during the period. Finally, M&R Capital Management Inc. boosted its holdings in Omnicom Group by 400.0% in the 1st quarter. M&R Capital Management Inc. now owns 500 shares of the business services provider’s stock worth $42,000 after buying an additional 400 shares during the period. 90.85% of the stock is owned by institutional investors.
Omnicom Group Trading Down 2.8 %
Shares of OMC opened at $66.99 on Monday. The firm’s 50-day moving average price is $68.89 and its 200-day moving average price is $72.98. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 4.22 and a beta of 0.84. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Omnicom Group Inc. has a 1-year low of $61.31 and a 1-year high of $91.61.
Omnicom Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Wednesday, September 21st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, September 20th. Omnicom Group’s payout ratio is currently 45.83%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Redburn Partners reiterated a “neutral” rating on shares of Omnicom Group in a research note on Thursday, September 8th. Citigroup increased their target price on shares of Omnicom Group to $86.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $96.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Wells Fargo & Company raised their price objective on shares of Omnicom Group from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 20th. Finally, Morgan Stanley lowered their price objective on shares of Omnicom Group from $84.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, June 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.70.
Insider Buying and Selling
In related news, VP Michael J. Obrien sold 18,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $70.47, for a total transaction of $1,268,460.00. Following the sale, the vice president now owns 131,118 shares of the company’s stock, valued at $9,239,885.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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