Richardson Financial Services Inc. Buys 224 Shares of Omnicom Group Inc. (NYSE:OMC)

Richardson Financial Services Inc. lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 66.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 562 shares of the business services provider’s stock after purchasing an additional 224 shares during the quarter. Richardson Financial Services Inc.’s holdings in Omnicom Group were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in OMC. Center For Asset Management LLC boosted its stake in Omnicom Group by 2.6% in the second quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after buying an additional 107 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Omnicom Group by 2.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock worth $413,000 after acquiring an additional 119 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Omnicom Group by 18.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 119 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Omnicom Group by 2.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider’s stock worth $594,000 after purchasing an additional 122 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Omnicom Group by 1.8% in the second quarter. Parallel Advisors LLC now owns 7,184 shares of the business services provider’s stock worth $644,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Omnicom Group news, 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 transaction of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the business’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 transaction, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

OMC has been the topic of a number of recent research reports. UBS Group raised their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Macquarie restated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, Bank of America boosted their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.30.

Omnicom Group Stock Up 1.2 %

Shares of Omnicom Group stock opened at $103.89 on Friday. The company’s fifty day simple moving average is $96.34 and its two-hundred day simple moving average is $93.94. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $104.80. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The company has a market cap of $20.35 billion, a P/E ratio of 14.04, a PEG ratio of 2.27 and a beta of 0.94.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.70%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Omnicom Group Company Profile

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.