Cerro Pacific Wealth Advisors LLC Has $571,000 Holdings in Omnicom Group Inc. $OMC

Cerro Pacific Wealth Advisors LLC lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 30.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,944 shares of the business services provider’s stock after purchasing an additional 1,856 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Omnicom Group were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of OMC. Farther Finance Advisors LLC increased its holdings in shares of Omnicom Group by 51.1% during the first quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider’s stock worth $592,000 after buying an additional 2,508 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Omnicom Group during the first quarter worth $208,000. CX Institutional increased its holdings in Omnicom Group by 6.8% in the first quarter. CX Institutional now owns 4,394 shares of the business services provider’s stock valued at $364,000 after purchasing an additional 281 shares during the period. Focus Financial Network Inc. acquired a new stake in Omnicom Group in the first quarter valued at $207,000. Finally, Fifth Third Bancorp increased its holdings in Omnicom Group by 13.9% in the first quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider’s stock valued at $618,000 after purchasing an additional 913 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Monday, June 23rd. JPMorgan Chase & Co. decreased their price objective on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Barclays downgraded 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 report on Wednesday, June 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $96.29.

Omnicom Group Stock Performance

Shares of OMC opened at $76.50 on Friday. 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 stock has a market capitalization of $14.82 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The firm’s fifty day simple moving average is $76.88 and its two-hundred day simple moving average is $74.98. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00.

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

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is 40.17%.

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.