Patriot Financial Group Insurance Agency LLC Raises Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Patriot Financial Group Insurance Agency LLC raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,698 shares of the business services provider’s stock after purchasing an additional 755 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Omnicom Group were worth $870,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Marino Stram & Associates LLC raised its holdings in shares of Omnicom Group by 1.0% during the first quarter. Marino Stram & Associates LLC now owns 11,613 shares of the business services provider’s stock worth $1,124,000 after purchasing an additional 110 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Omnicom Group by 2.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock valued at $413,000 after buying an additional 119 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Omnicom Group by 18.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock valued at $70,000 after buying an additional 119 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of 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 buying an additional 122 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in Omnicom Group by 2.6% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,955 shares of the business services provider’s stock worth $428,000 after acquiring an additional 124 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of the business’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 sale, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OMC. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $100.00 to $110.00 in a report on Tuesday, May 7th. UBS Group boosted their target price on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Macquarie restated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $104.70.

Omnicom Group Price Performance

NYSE:OMC traded down $0.38 during trading hours on Wednesday, reaching $98.73. 234,597 shares of the company were exchanged, compared to its average volume of 1,574,578. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The firm has a market cap of $19.33 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $99.89. The stock’s 50-day moving average is $92.73 and its 200-day moving average is $92.46.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

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. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

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.