Amalgamated Bank Buys 582 Shares of Omnicom Group Inc. (NYSE:OMC)

Amalgamated Bank boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.6% during the first quarter, Holdings Channel reports. The firm owned 38,082 shares of the business services provider’s stock after purchasing an additional 582 shares during the quarter. Amalgamated Bank’s holdings in Omnicom Group were worth $3,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Omnicom Group by 50.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock valued at $513,922,000 after buying an additional 1,992,695 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Omnicom Group in the fourth quarter valued at about $150,819,000. FMR LLC lifted its holdings in Omnicom Group by 250.1% in the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock valued at $172,987,000 after acquiring an additional 1,436,231 shares during the period. JPMorgan Chase & Co. lifted its holdings in Omnicom Group by 91.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock valued at $184,730,000 after acquiring an additional 1,027,567 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Omnicom Group in the fourth quarter valued at about $79,321,000. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Down 0.4%

Shares of OMC stock opened at $74.71 on Friday. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.65 and a beta of 0.92. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The company’s fifty day moving average price is $73.55 and its 200-day moving average price is $79.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 0.87.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.73 billion. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. Sell-side analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.75%. Omnicom Group’s dividend payout ratio (DPR) is 38.30%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Bank of America upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Monday, June 23rd. Barclays downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. UBS Group decreased their target price on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Citigroup reaffirmed a “buy” rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and an average target price of $96.43.

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.