Abacus Wealth Partners LLC Purchases Shares of 21,695 Omnicom Group Inc. $OMC

Abacus Wealth Partners LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,695 shares of the business services provider’s stock, valued at approximately $1,752,000.

Several other institutional investors also recently modified their holdings of the stock. iA Global Asset Management Inc. purchased a new stake in shares of Omnicom Group in the 4th quarter valued at approximately $480,000. Security National Bank purchased a new stake in shares of Omnicom Group in the fourth quarter valued at $76,000. Canada Post Corp Registered Pension Plan lifted its holdings in shares of Omnicom Group by 135.6% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 5,953 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 3,426 shares in the last quarter. Burford Brothers Inc. purchased a new stake in shares of Omnicom Group in the fourth quarter valued at $487,000. Finally, Qsemble Capital Management LP lifted its holdings in shares of Omnicom Group by 928.7% in the fourth quarter. Qsemble Capital Management LP now owns 132,623 shares of the business services provider’s stock valued at $10,709,000 after purchasing an additional 119,731 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

OMC stock opened at $70.89 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The stock has a market cap of $20.20 billion, a P/E ratio of 181.78, a P/E/G ratio of 0.42 and a beta of 0.66. The firm has a 50 day simple moving average of $76.81 and a 200 day simple moving average of $76.58. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 EPS. Research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.5%. Omnicom Group’s payout ratio is presently 820.51%.

Omnicom Group declared that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 38.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup reduced their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 30th. UBS Group increased their target price on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Argus upgraded Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Finally, Barclays raised their price target on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and a consensus price target of $93.71.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.