Concurrent Investment Advisors LLC Raises Holdings in Omnicom Group Inc. (NYSE:OMC)

Concurrent Investment Advisors LLC boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 9.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,686 shares of the business services provider’s stock after acquiring an additional 415 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Omnicom Group were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of OMC. Jacobs Levy Equity Management Inc. boosted its holdings in Omnicom Group by 319.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after acquiring an additional 1,104,566 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Omnicom Group during the 4th quarter valued at about $93,634,000. Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 892,494 shares during the period. Morningstar Investment Services LLC boosted its holdings in 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 acquiring an additional 595,746 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Omnicom Group by 88.9% during the 4th quarter. Point72 Asset Management L.P. now owns 1,161,477 shares of the business services provider’s stock valued at $100,479,000 after acquiring an additional 546,577 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’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 transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Down 1.1 %

Shares of NYSE:OMC opened at $99.33 on Wednesday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $100.61. The firm has a market capitalization of $19.43 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.36 and a beta of 0.95. The stock has a 50 day moving average price of $93.80 and a 200-day moving average price of $93.02. 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 announced its 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 return on equity of 37.51% and a net margin of 9.55%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Macquarie restated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus price target of $104.70.

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.