iA Global Asset Management Inc. Grows Stake in Omnicom Group Inc. (NYSE:OMC)

iA Global Asset Management Inc. grew its stake in Omnicom Group Inc. (NYSE:OMC) by 343.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,200 shares of the business services provider’s stock after acquiring an additional 11,772 shares during the quarter. iA Global Asset Management Inc.’s holdings in Omnicom Group were worth $1,471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its position in Omnicom Group by 49.2% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the business services provider’s stock worth $66,000 after acquiring an additional 250 shares during the period. DAVENPORT & Co LLC raised its stake in shares of Omnicom Group by 0.6% during the 4th quarter. DAVENPORT & Co LLC now owns 23,592 shares of the business services provider’s stock valued at $2,041,000 after buying an additional 149 shares during the last quarter. Dumont & Blake Investment Advisors LLC purchased a new position in shares of Omnicom Group during the 4th quarter valued at about $228,000. Avitas Wealth Management LLC raised its stake in shares of Omnicom Group by 7.6% during the 4th quarter. Avitas Wealth Management LLC now owns 12,097 shares of the business services provider’s stock valued at $1,047,000 after buying an additional 856 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Omnicom Group by 0.5% during the 4th quarter. Boston Trust Walden Corp now owns 468,841 shares of the business services provider’s stock valued at $40,559,000 after buying an additional 2,495 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

NYSE OMC traded down $3.03 on Friday, reaching $91.82. The stock had a trading volume of 966,793 shares, compared to its average volume of 1,624,939. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a 12-month low of $72.20 and a 12-month high of $98.71. The business’s 50-day moving average price is $91.49 and its 200 day moving average price is $91.74. The stock has a market cap of $17.96 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 2.31 and a beta of 0.95.

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

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 3.05%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Moffett Nathanson lifted their price target on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Macquarie reiterated an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, UBS Group boosted their target price on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.70.

Omnicom Group Company 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.