Empowered Funds LLC Has $22.52 Million Stock Holdings in Omnicom Group Inc. $OMC

Empowered Funds LLC boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 39.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,179 shares of the business services provider’s stock after purchasing an additional 87,798 shares during the quarter. Empowered Funds LLC’s holdings in Omnicom Group were worth $22,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OMC. Jefferies Financial Group Inc. raised its position in shares of Omnicom Group by 627.7% in the second quarter. Jefferies Financial Group Inc. now owns 68,524 shares of the business services provider’s stock valued at $4,991,000 after purchasing an additional 59,108 shares during the period. Strive Financial Group LLC boosted its holdings in shares of Omnicom Group by 1,110.7% during the 2nd quarter. Strive Financial Group LLC now owns 1,465 shares of the business services provider’s stock worth $107,000 after buying an additional 1,344 shares during the period. Redwood Investment Management LLC grew its stake in Omnicom Group by 19.6% in the 2nd quarter. Redwood Investment Management LLC now owns 11,243 shares of the business services provider’s stock valued at $819,000 after buying an additional 1,840 shares during the last quarter. Pure Financial Advisors LLC grew its stake in Omnicom Group by 3.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 4,464 shares of the business services provider’s stock valued at $325,000 after buying an additional 135 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in Omnicom Group by 6.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 15,952 shares of the business services provider’s stock valued at $1,164,000 after acquiring an additional 994 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Linda Johnson Rice sold 1,385 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director directly owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Omnicom Group Stock Down 0.1%

Shares of OMC opened at $87.78 on Friday. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The firm’s 50 day moving average is $81.37 and its 200-day moving average is $78.12. The stock has a market capitalization of $24.08 billion, a PE ratio of 75.68, a P/E/G ratio of 0.58 and a beta of 0.64. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. 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 posted $2.05 earnings per share. The company’s quarterly revenue was up 63.4% on a year-over-year basis. Equities research analysts forecast that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

Wall Street Analysts Forecast Growth

OMC has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective for the company. Wells Fargo & Company lifted their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective on the stock. Finally, Citigroup dropped their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Omnicom Group has a consensus rating of “Hold” and an average price target of $99.00.

About Omnicom Group

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.