Steward Partners Investment Advisory LLC Purchases 13,264 Shares of Omnicom Group Inc. $OMC

Steward Partners Investment Advisory LLC boosted its position in Omnicom Group Inc. (NYSE:OMC) by 94.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,321 shares of the business services provider’s stock after acquiring an additional 13,264 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Omnicom Group were worth $1,965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new position in shares of Omnicom Group in the 2nd quarter valued at about $29,000. Zions Bancorporation National Association UT bought a new position in Omnicom Group in the first quarter valued at approximately $34,000. Ameritas Advisory Services LLC bought a new position in Omnicom Group in the second quarter valued at approximately $34,000. Gen Wealth Partners Inc acquired a new stake in Omnicom Group during the 1st quarter worth $36,000. Finally, CGC Financial Services LLC acquired a new position in shares of Omnicom Group in the 2nd quarter valued at $45,000. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OMC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Finally, Barclays boosted their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $96.57.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $71.73 on Friday. The stock’s fifty day simple moving average is $75.87 and its 200 day simple moving average is $74.84. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $13.84 billion, a PE ratio of 10.60, a PEG ratio of 1.43 and a beta of 0.94. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $105.99.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 earnings per share. On average, research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be issued a dividend of $0.80 per share. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 19th. This represents a $3.20 annualized dividend and a yield of 4.5%. Omnicom Group’s dividend payout ratio is 41.36%.

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.