Omnicom Group Inc. (NYSE:OMC) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC cut its stake in Omnicom Group Inc. (NYSE:OMC) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,085 shares of the business services provider’s stock after selling 135 shares during the quarter. Marcum Wealth LLC’s holdings in Omnicom Group were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OMC. Park Avenue Securities LLC increased its position in shares of Omnicom Group by 3.2% during the 1st quarter. Park Avenue Securities LLC now owns 6,578 shares of the business services provider’s stock worth $637,000 after purchasing an additional 206 shares during the last quarter. Czech National Bank grew its position in Omnicom Group by 0.5% in the 1st quarter. Czech National Bank now owns 34,837 shares of the business services provider’s stock valued at $3,371,000 after acquiring an additional 171 shares in the last quarter. Fulton Bank N.A. grew its position in Omnicom Group by 9.4% in the 1st quarter. Fulton Bank N.A. now owns 3,895 shares of the business services provider’s stock valued at $377,000 after acquiring an additional 334 shares in the last quarter. Mather Group LLC. acquired a new position in Omnicom Group in the 1st quarter valued at about $218,000. Finally, Atlas Brown Inc. grew its position in Omnicom Group by 6.6% in the 1st quarter. Atlas Brown Inc. now owns 5,859 shares of the business services provider’s stock valued at $567,000 after acquiring an additional 362 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Up 0.8 %

NYSE:OMC opened at $90.47 on Friday. The firm has a market cap of $17.72 billion, a P/E ratio of 12.23, a PEG ratio of 2.09 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The stock’s 50 day simple moving average is $93.06 and its 200-day simple moving average is $90.60. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $99.23.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.58 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. Equities analysts anticipate that Omnicom Group Inc. will post 7.84 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 10th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Analysts Set New Price Targets

Several research firms have weighed in on OMC. Macquarie lifted their target price on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Moffett Nathanson lifted their price objective on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, BNP Paribas upgraded Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.40.

Insider Buying and Selling

In related news, Director Linda Johnson Rice sold 453 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the transaction, the director now owns 9,830 shares of the company’s stock, valued at $911,044.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.