22,876 Shares in Omnicom Group Inc. (NYSE:OMC) Acquired by Procyon Advisors LLC

Procyon Advisors LLC acquired a new stake in Omnicom Group Inc. (NYSE:OMC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,876 shares of the business services provider’s stock, valued at approximately $1,776,000.

Several other large investors also recently bought and sold shares of OMC. Compagnie Lombard Odier SCmA acquired a new position in Omnicom Group in the 4th quarter worth $366,000. Vest Financial LLC increased its position in shares of Omnicom Group by 41.1% during the fourth quarter. Vest Financial LLC now owns 393,490 shares of the business services provider’s stock worth $33,856,000 after acquiring an additional 114,703 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Omnicom Group by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 99,353 shares of the business services provider’s stock worth $8,549,000 after acquiring an additional 9,590 shares in the last quarter. Choreo LLC boosted its holdings in Omnicom Group by 77.1% in the fourth quarter. Choreo LLC now owns 10,267 shares of the business services provider’s stock valued at $881,000 after purchasing an additional 4,469 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Omnicom Group by 19.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,089 shares of the business services provider’s stock valued at $1,994,000 after purchasing an additional 3,793 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on OMC. Argus downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Barclays reduced their price objective on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. UBS Group decreased their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, Citigroup restated a “buy” rating and issued a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average target price of $101.29.

Omnicom Group Stock Up 1.7%

OMC stock opened at $71.43 on Friday. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.94 and a beta of 0.93. Omnicom Group Inc. has a 1-year low of $69.13 and a 1-year high of $107.00. The firm has a fifty day moving average price of $74.51 and a two-hundred day moving average price of $82.79. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. Research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 38.30%.

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.