Patron Partners LLC Invests $419,000 in Omnicom Group Inc. $OMC

Patron Partners LLC bought a new position in Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 5,749 shares of the business services provider’s stock, valued at approximately $419,000.

A number of other institutional investors have also added to or reduced their stakes in OMC. BlackRock Inc. bought a new stake in Omnicom Group during the second quarter worth about $2,082,476,000. Vanguard Group Inc. boosted its holdings in shares of Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Omnicom Group during the 2nd quarter valued at about $914,156,000. State Street Corp increased its position in shares of Omnicom Group by 40.4% during the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after purchasing an additional 6,813,441 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Omnicom Group by 522.9% during the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after buying an additional 4,364,797 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.9%

OMC opened at $87.87 on Friday. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $88.55. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The business’s 50-day moving average price is $80.34 and its 200-day moving average price is $77.57. The company has a market cap of $24.11 billion, a P/E ratio of 75.75, a P/E/G ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company’s revenue was up 63.4% compared to the same quarter last year. On average, equities analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Morgan Stanley lifted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Rothschild & Co Redburn initiated coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Finally, Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Company 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.