Legacy Financial Advisors Inc. Has $358,000 Stock Position in Omnicom Group Inc. (NYSE:OMC)

Legacy Financial Advisors Inc. lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 39.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,993 shares of the business services provider’s stock after selling 2,588 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Omnicom Group were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Center For Asset Management LLC boosted its stake in Omnicom Group by 2.6% during 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 increased its stake in Omnicom Group by 2.9% in the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 119 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Omnicom Group by 18.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock worth $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 first 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 in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Omnicom Group by 1.8% during 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 period. 91.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Omnicom Group Price Performance

Omnicom Group stock opened at $102.30 on Friday. The business’s fifty day moving average is $96.52 and its two-hundred day moving average is $94.06. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market cap of $20.03 billion, a P/E ratio of 13.82, a P/E/G ratio of 2.27 and a beta of 0.94. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $104.80.

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, beating analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the previous year, the business posted $1.81 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post 7.95 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

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 given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. Omnicom Group’s payout ratio is 37.84%.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of 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. 1.30% of the stock is owned by insiders.

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.