Omnicom Group Inc. $OMC Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its position in shares of Omnicom Group Inc. (NYSE:OMC) by 54.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,308 shares of the business services provider’s stock after buying an additional 43,044 shares during the quarter. Corient Private Wealth LLC’s holdings in Omnicom Group were worth $9,877,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC increased its position in Omnicom Group by 69.9% during the 4th quarter. Hsbc Holdings PLC now owns 1,106,437 shares of the business services provider’s stock worth $89,543,000 after purchasing an additional 455,192 shares during the period. Pure Financial Advisors LLC lifted its holdings in shares of Omnicom Group by 8.2% in the 4th quarter. Pure Financial Advisors LLC now owns 4,570 shares of the business services provider’s stock valued at $369,000 after buying an additional 346 shares during the period. Reflection Asset Management purchased a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $666,000. Groupama Asset Managment boosted its stake in shares of Omnicom Group by 428.9% in the fourth quarter. Groupama Asset Managment now owns 18,401 shares of the business services provider’s stock valued at $1,486,000 after buying an additional 14,922 shares in the last quarter. Finally, MidFirst Bank acquired a new position in Omnicom Group during the fourth quarter worth $216,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on OMC. Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Citigroup reduced their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Trading Up 1.2%

Shares of OMC opened at $73.82 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 189.30, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The firm has a 50 day simple moving average of $75.26 and a 200-day simple moving average of $76.80.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.Omnicom Group’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 EPS. Equities analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is currently 820.51%.

Omnicom Group Company 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.