Welch & Forbes LLC Has $17.95 Million Stock Holdings in Omnicom Group Inc. $OMC

Welch & Forbes LLC decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 238,369 shares of the business services provider’s stock after selling 14,131 shares during the quarter. Welch & Forbes LLC’s holdings in Omnicom Group were worth $17,952,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of OMC. Citizens Financial Group Inc. RI grew its position in shares of Omnicom Group by 33.9% in the first quarter. Citizens Financial Group Inc. RI now owns 7,710 shares of the business services provider’s stock valued at $588,000 after purchasing an additional 1,954 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Omnicom Group by 552.4% during the 1st quarter. Fifth Third Bancorp now owns 101,331 shares of the business services provider’s stock worth $7,631,000 after purchasing an additional 85,798 shares during the last quarter. Candriam S.C.A. bought a new stake in Omnicom Group in the 1st quarter valued at $1,301,000. Conning Inc. increased its position in Omnicom Group by 6.0% during the 1st quarter. Conning Inc. now owns 432,749 shares of the business services provider’s stock worth $32,590,000 after buying an additional 24,393 shares during the period. Finally, Summit Securities Group LLC boosted its position in shares of Omnicom Group by 226.9% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the business services provider’s stock valued at $166,000 after acquiring an additional 1,527 shares during the period. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OMC. Morgan Stanley lifted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. UBS Group boosted their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Finally, Argus upgraded Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $99.38.

Omnicom Group Trading Up 1.4%

OMC traded up $1.14 during trading on Friday, reaching $81.97. 2,425,687 shares of the company’s stock were exchanged, compared to its average volume of 4,929,007. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The firm has a fifty day moving average price of $75.29 and a two-hundred day moving average price of $76.73. The stock has a market capitalization of $23.36 billion, a PE ratio of 210.20, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 earnings per share. As a group, equities research analysts forecast that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is 820.51%.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.