Patriot Financial Group Insurance Agency LLC Increases Stock Holdings in Omnicom Group Inc. $OMC

Patriot Financial Group Insurance Agency LLC lifted its position in Omnicom Group Inc. (NYSE:OMC) by 18.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,629 shares of the business services provider’s stock after purchasing an additional 2,330 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Omnicom Group were worth $1,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group during the first quarter valued at about $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Omnicom Group during the first quarter valued at about $36,000. Versant Capital Management Inc increased its position in shares of Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 143 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of 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 valued at $41,000 after acquiring an additional 343 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Omnicom Group during the first quarter valued at about $43,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OMC shares. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research report on Saturday, September 27th. Finally, Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Monday, June 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus price target of $96.29.

Omnicom Group Stock Up 1.0%

Shares of OMC opened at $77.59 on Friday. The company’s 50-day simple moving average is $76.33 and its 200-day simple moving average is $75.10. The stock has a market capitalization of $15.03 billion, a PE ratio of 11.13, a P/E/G ratio of 1.50 and a beta of 0.96. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.95 earnings per share. Analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 3.6%. Omnicom Group’s dividend payout ratio (DPR) is 40.17%.

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.