ProVise Management Group LLC Has $8.16 Million Position in Omnicom Group Inc. (NYSE:OMC)

ProVise Management Group LLC lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,007 shares of the business services provider’s stock after purchasing an additional 3,925 shares during the period. ProVise Management Group LLC’s holdings in Omnicom Group were worth $8,163,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OMC. Frazier Financial Advisors LLC acquired a new position in Omnicom Group in the fourth quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new position in Omnicom Group during the fourth quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Omnicom Group in the second quarter valued at approximately $33,000. Innealta Capital LLC acquired a new stake in Omnicom Group in the second quarter worth $33,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Omnicom Group by 47.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock valued at $37,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Omnicom Group Stock Up 0.9 %

OMC stock opened at $102.61 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average price of $96.11 and a two-hundred day moving average price of $93.87. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.27 and a beta of 0.94. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $103.58.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Analyst Upgrades and Downgrades

OMC has been the topic of several recent analyst reports. Bank of America lifted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Macquarie reaffirmed an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, UBS Group raised their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.30.

Omnicom Group Company 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.