Omnicom Group Inc. $OMC Shares Purchased by First Horizon Corp

First Horizon Corp boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 28.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 107,383 shares of the business services provider’s stock after acquiring an additional 23,985 shares during the period. First Horizon Corp’s holdings in Omnicom Group were worth $8,087,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OMC. Kestra Advisory Services LLC increased its holdings in Omnicom Group by 15.8% in the first quarter. Kestra Advisory Services LLC now owns 18,175 shares of the business services provider’s stock valued at $1,382,000 after buying an additional 2,477 shares during the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Omnicom Group by 0.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 99,703 shares of the business services provider’s stock valued at $7,509,000 after acquiring an additional 861 shares during the period. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Omnicom Group in the first quarter valued at $1,233,000. Resonant Capital Advisors LLC increased its position in Omnicom Group by 5.0% in the 1st quarter. Resonant Capital Advisors LLC now owns 8,341 shares of the business services provider’s stock valued at $634,000 after acquiring an additional 399 shares during the period. Finally, Swedbank AB raised its stake in shares of Omnicom Group by 17.3% during the first quarter. Swedbank AB now owns 113,213 shares of the business services provider’s stock worth $8,526,000 after purchasing an additional 16,685 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OMC has been the subject of several analyst reports. Argus raised shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. UBS Group lifted their price objective on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $99.38.

Omnicom Group Price Performance

OMC stock opened at $80.89 on Friday. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The stock’s fifty day simple moving average is $75.17 and its 200-day simple moving average is $76.69. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 207.43, a price-to-earnings-growth ratio of 0.47 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm posted $1.70 earnings per share. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. Equities research analysts expect that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th were issued a $0.80 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.0%. Omnicom Group’s payout ratio is 820.51%.

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.