Atwood & Palmer Inc. Invests $95,000 in Omnicom Group Inc. $OMC

Atwood & Palmer Inc. purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,327 shares of the business services provider’s stock, valued at approximately $95,000.

Several other institutional investors also recently modified their holdings of the stock. Martin Capital Partners LLC bought a new stake in shares of Omnicom Group in the second quarter worth $549,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Omnicom Group by 32.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,080 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 265 shares during the last quarter. HBW Advisory Services LLC boosted its position in Omnicom Group by 2.4% during the second quarter. HBW Advisory Services LLC now owns 38,000 shares of the business services provider’s stock valued at $2,734,000 after acquiring an additional 900 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Omnicom Group by 11.5% during the second quarter. Central Pacific Bank Trust Division now owns 3,904 shares of the business services provider’s stock valued at $281,000 after acquiring an additional 402 shares during the last quarter. Finally, First Hawaiian Bank boosted its position in shares of Omnicom Group by 11.6% during the 1st quarter. First Hawaiian Bank now owns 4,594 shares of the business services provider’s stock worth $381,000 after purchasing an additional 476 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OMC shares. Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Monday, June 23rd. Barclays lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. JPMorgan Chase & Co. reduced their target price on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Finally, Wells Fargo & Company reduced their target price on shares of Omnicom Group from $84.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.43.

Omnicom Group Stock Down 0.9%

Omnicom Group stock opened at $77.14 on Monday. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.53 and a beta of 0.97. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The firm has a 50 day simple moving average of $75.31 and a 200 day simple moving average of $75.51.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the business earned $1.95 EPS. Omnicom Group’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s payout ratio is currently 40.17%.

Omnicom Group Profile

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.