Omnicom Group Inc. $OMC Shares Acquired by First Horizon Corp

First Horizon Corp lifted its holdings in Omnicom Group Inc. (NYSE:OMC) by 28.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,383 shares of the business services provider’s stock after buying an additional 23,985 shares during the period. First Horizon Corp’s holdings in Omnicom Group were worth $8,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management boosted its holdings 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 during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $26,000. Legacy Wealth Managment LLC ID increased its holdings in shares of 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 purchasing an additional 176 shares during the last quarter. Finally, EFG International AG purchased a new position in Omnicom Group during the fourth quarter worth approximately $28,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OMC. UBS Group boosted their price objective on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Argus raised Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Rothschild & Co Redburn initiated coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Morgan Stanley boosted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $99.38.

Omnicom Group Stock Performance

NYSE OMC opened at $80.89 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The company has a market cap of $23.06 billion, a P/E ratio of 207.43, a P/E/G ratio of 0.47 and a beta of 0.63. The stock has a 50-day moving average of $75.17 and a two-hundred day moving average of $76.69. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17.

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

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group’s dividend payout ratio is 820.51%.

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.