Omnicom Group Inc. (NYSE:OMC) Stake Lifted by ProVise Management Group LLC

ProVise Management Group LLC increased its stake in shares of Omnicom Group Inc. (NYSE:OMCFree Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,239 shares of the business services provider’s stock after buying an additional 4,409 shares during the quarter. ProVise Management Group LLC’s holdings in Omnicom Group were worth $6,855,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OMC. Tokio Marine Asset Management Co. Ltd. grew its stake in Omnicom Group by 12.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,455 shares of the business services provider’s stock worth $332,000 after buying an additional 488 shares during the last quarter. Larson Financial Group LLC grew its stake in Omnicom Group by 4,169.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,537 shares of the business services provider’s stock worth $114,000 after buying an additional 1,501 shares during the last quarter. MGO One Seven LLC grew its stake in Omnicom Group by 57.4% during the 3rd quarter. MGO One Seven LLC now owns 7,076 shares of the business services provider’s stock worth $527,000 after buying an additional 2,581 shares during the last quarter. Syon Capital LLC bought a new position in Omnicom Group during the 3rd quarter worth $223,000. Finally, NBC Securities Inc. bought a new position in Omnicom Group during the 3rd quarter worth $200,000. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OMC. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Moffett Nathanson increased their price target on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Macquarie increased their price target on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

Read Our Latest Stock Report on OMC

Insider Activity

In related news, Director Linda Johnson Rice sold 453 shares of the company’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 transaction, the director now directly owns 9,830 shares of the company’s stock, valued at $911,044.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Price Performance

Shares of Omnicom Group stock traded up $0.89 during trading on Friday, hitting $95.11. The stock had a trading volume of 1,002,530 shares, compared to its average volume of 1,592,581. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market cap of $18.63 billion, a P/E ratio of 12.73, a PEG ratio of 2.22 and a beta of 0.96. The business has a fifty day moving average of $94.22 and a two-hundred day moving average of $88.70. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23.

Omnicom Group (NYSE:OMCGet Free Report) last announced its earnings results on Tuesday, April 16th. The business services provider reported $1.67 EPS for the quarter, beating the consensus estimate of $1.52 by $0.15. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.58 billion. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.84 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, June 10th. Omnicom Group’s dividend payout ratio is 37.84%.

About Omnicom Group

(Free Report)

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.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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