Assetmark Inc. Boosts Stock Position in Omnicom Group Inc. (NYSE:OMC)

Assetmark Inc. increased its stake in Omnicom Group Inc. (NYSE:OMC) by 10.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 538,813 shares of the business services provider’s stock after buying an additional 49,774 shares during the period. Assetmark Inc. owned 0.27% of Omnicom Group worth $46,359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ST Germain D J Co. Inc. bought a new position in Omnicom Group in the 4th quarter valued at approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of Omnicom Group by 645.2% during the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after buying an additional 271 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Omnicom Group by 146.6% during the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock valued at $28,000 after buying an additional 195 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Omnicom Group by 742.4% during the 4th quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after buying an additional 490 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Omnicom Group during the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Omnicom Group stock opened at $82.25 on Thursday. The company has a 50 day moving average price of $84.55 and a 200-day moving average price of $94.53. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. Omnicom Group Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $107.00. The company has a market capitalization of $16.16 billion, a PE ratio of 11.04, a P/E/G ratio of 1.94 and a beta of 0.98.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the prior year, the firm earned $2.20 earnings per share. As a group, equities analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s dividend payout ratio is currently 37.58%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Macquarie reissued an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. Barclays lowered their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company reduced their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

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.