AlTi Global Inc. Takes Position in Omnicom Group Inc. $OMC

AlTi Global Inc. bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 40,851 shares of the business services provider’s stock, valued at approximately $3,056,000.

A number of other large investors also recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC purchased a new position in shares of Omnicom Group in the first quarter worth about $316,000. Meeder Asset Management Inc. grew its position in Omnicom Group by 117.0% during the 1st quarter. Meeder Asset Management Inc. now owns 64,092 shares of the business services provider’s stock worth $4,827,000 after acquiring an additional 34,560 shares during the last quarter. Sound Shore Management Inc. CT purchased a new position in Omnicom Group in the 1st quarter worth approximately $63,483,000. Ironwood Investment Counsel LLC lifted its position in Omnicom Group by 2.6% in the first quarter. Ironwood Investment Counsel LLC now owns 27,059 shares of the business services provider’s stock valued at $2,038,000 after purchasing an additional 681 shares during the last quarter. Finally, SEB Asset Management AB bought a new stake in Omnicom Group in the first quarter valued at approximately $16,197,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.0%

OMC opened at $81.72 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17. The stock has a market cap of $23.29 billion, a PE ratio of 209.53, a PEG ratio of 0.49 and a beta of 0.63. The business has a 50 day moving average of $75.79 and a 200-day moving average of $76.78.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion for 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 revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.70 earnings per share. Equities research analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm 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 $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. Omnicom Group’s dividend payout ratio is currently 820.51%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OMC. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Citigroup lowered their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Morgan Stanley increased 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $99.38.

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.