Ieq Capital LLC Purchases Shares of 23,257 Omnicom Group Inc. $OMC

Ieq Capital LLC acquired a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,257 shares of the business services provider’s stock, valued at approximately $1,694,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Activest Wealth Management increased its position in shares of Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in Omnicom Group in the second quarter valued at about $25,000. Elyxium Wealth LLC acquired a new position in Omnicom Group in the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID boosted its position in Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares in the last quarter. Finally, EFG International AG bought a new stake in Omnicom Group during the fourth quarter worth about $28,000. 91.97% of the stock is owned by institutional investors.

Omnicom Group Price Performance

OMC opened at $88.23 on Wednesday. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The company’s 50 day simple moving average is $80.81 and its 200-day simple moving average is $77.86. The stock has a market capitalization of $24.21 billion, a P/E ratio of 76.06, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the firm earned $2.05 EPS. The business’s revenue for the quarter was up 63.4% on a year-over-year basis. Sell-side analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s payout ratio is currently 275.86%.

Analyst Ratings Changes

OMC has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Citigroup decreased their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Morgan Stanley raised their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective on the stock. Finally, Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Omnicom Group presently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group 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.