Sound Income Strategies LLC Acquires 11,571 Shares of Omnicom Group Inc. (NYSE:OMC)

Sound Income Strategies LLC boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 235,779 shares of the business services provider’s stock after buying an additional 11,571 shares during the quarter. Omnicom Group makes up 1.6% of Sound Income Strategies LLC’s investment portfolio, making the stock its 15th largest holding. Sound Income Strategies LLC owned 0.12% of Omnicom Group worth $24,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in OMC. Iowa State Bank boosted its holdings in Omnicom Group by 0.4% in the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after purchasing an additional 101 shares during the period. Center For Asset Management LLC boosted its holdings in shares of Omnicom Group by 2.6% during the second quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after purchasing an additional 107 shares during the period. Park Avenue Securities LLC lifted its holdings in Omnicom Group by 1.1% in the 3rd quarter. Park Avenue Securities LLC now owns 10,151 shares of the business services provider’s stock worth $1,049,000 after buying an additional 113 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Omnicom Group by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock valued at $413,000 after buying an additional 119 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in Omnicom Group by 18.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock worth $70,000 after buying an additional 119 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OMC shares. Macquarie reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group boosted their target price on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Bank of America raised their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.30.

Omnicom Group Stock Up 1.1 %

Shares of NYSE OMC traded up $1.14 during mid-day trading on Friday, reaching $102.86. 696,562 shares of the company were exchanged, compared to its average volume of 1,524,190. Omnicom Group Inc. has a 1 year low of $73.28 and a 1 year high of $104.80. The firm has a 50-day moving average of $99.03 and a 200 day moving average of $94.98. The stock has a market cap of $20.12 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 2.39 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the firm earned $1.81 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, research analysts expect that Omnicom Group Inc. will post 7.88 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.72%. Omnicom Group’s dividend payout ratio is presently 38.73%.

Insider Transactions at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the director now directly owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.