Cibc World Market Inc. Takes Position in Omnicom Group Inc. $OMC

Cibc World Market Inc. purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 26,524 shares of the business services provider’s stock, valued at approximately $1,932,000.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of Omnicom Group in the second quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new stake in shares of Omnicom Group during the fourth quarter worth approximately $26,000. Legacy Wealth Managment LLC ID increased its position in shares of Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Finally, EFG International AG purchased a new position in Omnicom Group in the 4th quarter valued at $28,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Down 0.2%

Shares of NYSE:OMC opened at $87.98 on Thursday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. The firm’s 50 day moving average price is $81.04 and its 200 day moving average price is $77.99. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 75.85, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64.

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

Omnicom Group Dividend Announcement

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

Insider Buying and Selling

In other news, Director Linda Johnson Rice sold 1,385 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director directly owned 11,719 shares in the company, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

OMC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Citigroup dropped their target price on 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 started coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and an average price target 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.