45,743 Shares in Omnicom Group Inc. $OMC Purchased by GQG Partners LLC

GQG Partners LLC purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 45,743 shares of the business services provider’s stock, valued at approximately $3,331,000.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Omnicom Group by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock worth $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Omnicom Group in the 2nd quarter valued at about $241,000. Gabelli Funds LLC acquired a new position in Omnicom Group in the second quarter valued at about $1,061,000. Daiwa Securities Group Inc. lifted its position in Omnicom Group by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after buying an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after buying an additional 44,746 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted 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 upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. 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. Citigroup dropped their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn initiated coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Price Performance

Shares of OMC opened at $87.87 on Friday. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $88.55. The firm’s fifty day simple moving average is $80.34 and its 200-day simple moving average is $77.57. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 75.75, a PEG 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 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). The company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company’s quarterly revenue was up 63.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. Equities analysts forecast that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

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 issued 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 3.6%. Omnicom Group’s payout ratio is presently 275.86%.

Omnicom Group Profile

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.