Old North State Wealth Management LLC Boosts Stake in Omnicom Group Inc. (NYSE:OMC)

Old North State Wealth Management LLC lifted its holdings in Omnicom Group Inc. (NYSE:OMC) by 8.1% during the first quarter, Holdings Channel reports. The institutional investor owned 21,586 shares of the business services provider’s stock after purchasing an additional 1,624 shares during the quarter. Old North State Wealth Management LLC’s holdings in Omnicom Group were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Diversified Trust Co boosted its stake in shares of Omnicom Group by 3.7% in the first quarter. Diversified Trust Co now owns 43,970 shares of the business services provider’s stock valued at $3,646,000 after buying an additional 1,585 shares in the last quarter. Total Wealth Planning & Management Inc. boosted its position in Omnicom Group by 20.7% during the first quarter. Total Wealth Planning & Management Inc. now owns 13,152 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 2,253 shares in the last quarter. Perpetual Ltd purchased a new stake in Omnicom Group during the first quarter worth $212,000. Robeco Institutional Asset Management B.V. boosted its position in Omnicom Group by 66.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 69,287 shares of the business services provider’s stock worth $5,745,000 after purchasing an additional 27,592 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Omnicom Group by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock worth $41,000 after purchasing an additional 343 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday. UBS Group cut their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. cut their price target on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Barclays cut Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $105.00 to $80.00 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

Omnicom Group Stock Performance

Omnicom Group stock opened at $71.24 on Friday. The firm has a market capitalization of $13.90 billion, a P/E ratio of 9.75, a PEG ratio of 1.56 and a beta of 0.93. The stock has a fifty day moving average price of $73.58 and a 200 day moving average price of $79.73. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Equities research analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Tuesday, June 10th. Omnicom Group’s dividend payout ratio is currently 38.30%.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.