Zeno Research LLC Purchases Shares of 23,240 Omnicom Group Inc. (NYSE:OMC)

Zeno Research LLC acquired a new position in Omnicom Group Inc. (NYSE:OMCGet Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 23,240 shares of the business services provider’s stock, valued at approximately $1,703,000. Omnicom Group comprises approximately 1.7% of Zeno Research LLC’s holdings, making the stock its 22nd biggest holding.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth $100,916,000. Two Sigma Advisers LP raised its stake in shares of Omnicom Group by 766.4% in the third quarter. Two Sigma Advisers LP now owns 796,200 shares of the business services provider’s stock worth $57,693,000 after purchasing an additional 704,300 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Omnicom Group by 37.4% in the fourth quarter. Lazard Asset Management LLC now owns 2,172,548 shares of the business services provider’s stock worth $159,181,000 after purchasing an additional 591,257 shares during the last quarter. Brown Advisory Inc. increased its position in Omnicom Group by 132.8% during the fourth quarter. Brown Advisory Inc. now owns 1,001,350 shares of the business services provider’s stock valued at $73,369,000 after acquiring an additional 571,289 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in Omnicom Group by 24.0% during the fourth quarter. Schroder Investment Management Group now owns 2,606,198 shares of the business services provider’s stock valued at $190,956,000 after acquiring an additional 504,221 shares during the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.

OMC has been the topic of a number of research analyst reports. Bank of America boosted their price target on Omnicom Group from $67.00 to $77.00 and gave the stock an “underperform” rating in a report on Wednesday, February 9th. StockNews.com upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. Morgan Stanley boosted their price target on shares of Omnicom Group from $78.00 to $84.00 and gave the stock an “underweight” rating in a research report on Thursday, February 10th. Wells Fargo & Company boosted their price objective on shares of Omnicom Group from $85.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 9th. Finally, Barclays cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $103.00 to $90.00 in a research report on Monday, March 14th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and an average price target of $88.80.

In other Omnicom Group news, Director Linda Johnson Rice sold 1,900 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $77.88, for a total value of $147,972.00. Following the completion of the transaction, the director now owns 9,784 shares in the company, valued at $761,977.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Shares of NYSE:OMC traded up $0.96 on Thursday, hitting $73.04. 1,705,518 shares of the company were exchanged, compared to its average volume of 1,920,506. Omnicom Group Inc. has a 1-year low of $65.76 and a 1-year high of $91.61. The stock’s 50 day moving average price is $79.44 and its 200 day moving average price is $76.94. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $15.03 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77.

Omnicom Group (NYSE:OMCGet Rating) last posted its earnings results on Tuesday, April 19th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.29 billion. Omnicom Group had a net margin of 9.06% and a return on equity of 37.06%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 earnings per share. On average, equities analysts predict that Omnicom Group Inc. will post 6.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 10th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $2.80 dividend on an annualized basis and a yield of 3.83%. Omnicom Group’s dividend payout ratio is presently 46.43%.

About Omnicom Group (Get Rating)

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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