Ashton Thomas Private Wealth LLC Buys Shares of 799 Omnicom Group Inc. (NYSE:OMC)

Ashton Thomas Private Wealth LLC purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 799 shares of the business services provider’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OMC. Jacobs Levy Equity Management Inc. boosted its position in shares of Omnicom Group by 319.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after purchasing an additional 1,104,566 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Omnicom Group during the 4th quarter valued at $93,634,000. Bank of New York Mellon Corp raised its position in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Omnicom Group during the 2nd quarter valued at $56,177,000. Finally, Morningstar Investment Services LLC raised its position in shares of Omnicom Group by 98.7% during the 4th quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock valued at $104,037,000 after purchasing an additional 595,746 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on OMC shares. UBS Group boosted their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Macquarie reiterated an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and an average price target of $106.30.

Omnicom Group Stock Performance

Shares of OMC stock opened at $99.97 on Friday. The firm has a market capitalization of $19.58 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The company has a 50 day moving average price of $95.43 and a 200 day moving average price of $93.58. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $102.13. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares of the company’s stock, valued at $941,153.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.