10,106 Shares in Omnicom Group Inc. $OMC Acquired by Councilmark Asset Management LLC

Councilmark Asset Management LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,106 shares of the business services provider’s stock, valued at approximately $736,000.

Several other institutional investors also recently bought and sold shares of OMC. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Omnicom Group during the 2nd quarter valued at about $241,000. Gabelli Funds LLC acquired a new position in Omnicom Group during the 2nd quarter valued at about $1,061,000. Daiwa Securities Group Inc. raised its stake 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. raised its stake in Omnicom Group by 14.1% in the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after buying an additional 44,746 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OMC. Citigroup dropped their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Zacks Research lowered Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company upped their target price on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Performance

NYSE OMC opened at $88.23 on Wednesday. The firm has a market capitalization of $24.21 billion, a P/E ratio of 76.06, a PEG ratio of 0.59 and a beta of 0.64. The stock has a 50-day simple moving average of $80.81 and a two-hundred day simple moving average of $77.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The company’s revenue was up 63.4% compared to the same quarter last year. On average, equities analysts forecast that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s payout ratio is currently 275.86%.

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.