Pallas Capital Advisors LLC Acquires New Shares in Omnicom Group Inc. (NYSE:OMC)

Pallas Capital Advisors LLC acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the first quarter, according to its most recent filing with the SEC. The fund acquired 2,505 shares of the business services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in shares of Omnicom Group by 51.1% during the 1st quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider’s stock valued at $592,000 after purchasing an additional 2,508 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in Omnicom Group by 8.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 12,299 shares of the business services provider’s stock worth $1,020,000 after buying an additional 954 shares in the last quarter. Procyon Advisors LLC bought a new position in Omnicom Group in the 1st quarter worth about $1,776,000. Curat Global LLC purchased a new stake in shares of Omnicom Group in the 1st quarter valued at about $512,000. Finally, HF Advisory Group LLC raised its holdings in shares of Omnicom Group by 25.1% in the 1st quarter. HF Advisory Group LLC now owns 4,847 shares of the business services provider’s stock valued at $402,000 after acquiring an additional 973 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on OMC. Citigroup reaffirmed a “buy” rating and issued a $103.00 price target on shares of Omnicom Group in a report on Tuesday, April 15th. UBS Group lowered their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Barclays lowered their price target on Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.29.

Omnicom Group Price Performance

OMC opened at $69.42 on Friday. The stock has a 50-day moving average price of $74.30 and a 200-day moving average price of $81.73. Omnicom Group Inc. has a 12-month low of $69.13 and a 12-month high of $107.00. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $13.54 billion, a P/E ratio of 9.32, a PEG ratio of 1.94 and a beta of 0.93.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Tuesday, June 10th. Omnicom Group’s payout ratio is currently 38.30%.

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.