Corient Private Wealth LP Purchases 11,664 Shares of Omnicom Group Inc. $OMC

Corient Private Wealth LP lifted its position in Omnicom Group Inc. (NYSE:OMC) by 10.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,990 shares of the business services provider’s stock after purchasing an additional 11,664 shares during the period. Corient Private Wealth LP’s holdings in Omnicom Group were worth $9,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management boosted its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in Omnicom Group during the second quarter valued at about $25,000. Elyxium Wealth LLC bought a new stake in Omnicom Group during the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID lifted its position in shares of Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. Finally, EFG International AG purchased a new position in shares of Omnicom Group in the fourth quarter valued at about $28,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Stock Up 0.0%

Shares of OMC stock opened at $88.32 on Monday. The company’s fifty day simple moving average is $81.71 and its two-hundred day simple moving average is $78.24. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. The stock has a market cap of $24.23 billion, a P/E ratio of 76.14, a PEG ratio of 0.59 and a beta of 0.64. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s revenue for the quarter was up 63.4% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. Omnicom Group’s dividend payout ratio is presently 275.86%.

Analyst Ratings Changes

Several analysts recently issued reports on OMC shares. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Wells Fargo & Company upped their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Finally, Citigroup cut their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $99.00.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at $1,039,826.87. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.