Ballentine Partners LLC Grows Stake in Omnicom Group Inc. (NYSE:OMC)

Ballentine Partners LLC grew its position in Omnicom Group Inc. (NYSE:OMC) by 25.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,174 shares of the business services provider’s stock after buying an additional 3,297 shares during the quarter. Ballentine Partners LLC’s holdings in Omnicom Group were worth $1,565,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OMC. Arvest Investments Inc. purchased a new position in Omnicom Group during the 4th quarter valued at about $1,969,000. Raymond James & Associates raised its stake in Omnicom Group by 3.3% in the fourth quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock worth $37,471,000 after buying an additional 13,709 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Omnicom Group by 1,627.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock valued at $5,752,000 after acquiring an additional 62,640 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Omnicom Group in the 4th quarter worth $27,419,000. Finally, Occidental Asset Management LLC grew its stake in Omnicom Group by 329.0% in the fourth quarter. Occidental Asset Management LLC now owns 13,802 shares of the business services provider’s stock valued at $1,194,000 after purchasing an additional 10,585 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Macquarie raised their price target on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Thursday, March 28th. Finally, Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Insider Buying and Selling

In other news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the transaction, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Omnicom Group Trading Up 1.2 %

Shares of OMC traded up $1.07 during midday trading on Monday, reaching $91.54. The company had a trading volume of 84,932 shares, compared to its average volume of 1,592,094. The firm has a 50 day simple moving average of $93.06 and a 200-day simple moving average of $90.66. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. The stock has a market cap of $17.93 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $99.23.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.15. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Research analysts forecast that Omnicom Group Inc. will post 7.84 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 10th will be issued a $0.70 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. Omnicom Group’s dividend payout ratio is currently 37.84%.

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.