ProVise Management Group LLC Acquires 4,409 Shares of Omnicom Group Inc. (NYSE:OMC)

ProVise Management Group LLC increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,239 shares of the business services provider’s stock after acquiring an additional 4,409 shares during the period. ProVise Management Group LLC’s holdings in Omnicom Group were worth $6,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OMC. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of 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 acquiring an additional 488 shares in the last quarter. Larson Financial Group LLC boosted its position in Omnicom Group by 4,169.4% in the third quarter. Larson Financial Group LLC now owns 1,537 shares of the business services provider’s stock valued at $114,000 after buying an additional 1,501 shares in the last quarter. MGO One Seven LLC boosted its position in Omnicom Group by 57.4% in the third quarter. MGO One Seven LLC now owns 7,076 shares of the business services provider’s stock valued at $527,000 after buying an additional 2,581 shares in the last quarter. Syon Capital LLC acquired a new stake in Omnicom Group in the third quarter valued at approximately $223,000. Finally, NBC Securities Inc. acquired a new stake in Omnicom Group in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OMC. Moffett Nathanson raised their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $91.00 to $106.00 in a research note on Wednesday, April 17th. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Thursday, March 28th. Macquarie boosted their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and an average target price of $104.40.

Omnicom Group Price Performance

NYSE OMC traded up $0.89 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. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96. The firm has a 50-day moving average of $94.22 and a 200-day moving average of $88.70.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.15. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. Equities analysts expect that Omnicom Group Inc. will post 7.84 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 10th will be given 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 of this dividend is Monday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

Insider Activity

In other Omnicom Group news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the sale, the director now owns 9,830 shares of the company’s stock, valued at approximately $911,044.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.