Veriti Management LLC Takes $210,000 Position in Omnicom Group Inc. (NYSE:OMC)

Veriti Management LLC acquired a new stake in shares of Omnicom Group Inc. (NYSE:OMCGet Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,335 shares of the business services provider’s stock, valued at approximately $210,000.

Other hedge funds have also recently made changes to their positions in the company. Clear Street Markets LLC grew its holdings in shares of Omnicom Group by 131.7% during the second quarter. Clear Street Markets LLC now owns 431 shares of the business services provider’s stock valued at $27,000 after buying an additional 245 shares during the last quarter. Ronald Blue Trust Inc. purchased a new position in Omnicom Group during the second quarter worth about $27,000. Arlington Partners LLC purchased a new position in Omnicom Group during the second quarter worth about $30,000. Venture Visionary Partners LLC purchased a new position in Omnicom Group during the second quarter worth about $36,000. Finally, Janiczek Wealth Management LLC boosted its holdings in Omnicom Group by 623.3% during the second quarter. Janiczek Wealth Management LLC now owns 528 shares of the business services provider’s stock worth $37,000 after purchasing an additional 455 shares during the last quarter. 90.20% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE OMC opened at $85.80 on Wednesday. The company’s 50 day moving average is $78.45 and its 200-day moving average is $71.50. Omnicom Group Inc. has a 12-month low of $61.31 and a 12-month high of $91.61. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.68. The firm has a market cap of $17.50 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 4.80 and a beta of 0.84.

Omnicom Group (NYSE:OMCGet Rating) last posted its quarterly earnings results on Tuesday, October 18th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.13. Omnicom Group had a net margin of 9.13% and a return on equity of 40.82%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 6.51 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 11th. Investors of record on Wednesday, December 21st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Tuesday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is presently 44.94%.

Analyst Ratings Changes

Several research analysts recently weighed in on OMC shares. Barclays boosted their price target on shares of Omnicom Group to $80.00 in a report on Thursday, October 27th. Morgan Stanley boosted their price target on shares of Omnicom Group from $67.00 to $75.00 and gave the stock an “underweight” rating in a report on Monday, December 19th. Finally, started coverage on shares of Omnicom Group in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and an average price target of $85.40.

Insider Buying and Selling

In related news, Director Linda Johnson Rice sold 1,300 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $70.79, for a total transaction of $92,027.00. Following the sale, the director now owns 10,048 shares of the company’s stock, valued at approximately $711,297.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Omnicom Group Company Profile

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Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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