AlTi Global Inc. Buys Shares of 40,851 Omnicom Group Inc. $OMC

AlTi Global Inc. purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 40,851 shares of the business services provider’s stock, valued at approximately $3,056,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OMC. Activest Wealth Management boosted its position in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Omnicom Group during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in Omnicom Group in the 4th quarter worth approximately $26,000. Legacy Wealth Managment LLC ID grew its stake in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares in the last quarter. Finally, EFG International AG bought a new stake in Omnicom Group during the 4th quarter valued at $28,000. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the topic of several recent research reports. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Citigroup dropped their price objective on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $99.38.

Omnicom Group Trading Down 0.0%

Omnicom Group stock opened at $81.72 on Monday. The stock has a market cap of $23.29 billion, a P/E ratio of 209.53, a PEG ratio of 0.49 and a beta of 0.63. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The firm’s fifty day moving average price is $75.79 and its 200-day moving average price is $76.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the business posted $1.70 earnings per share. The firm’s revenue was up 69.2% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is 820.51%.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.