Evolve Private Wealth LLC Purchases 31,508 Shares of Omnicom Group Inc. $OMC

Evolve Private Wealth LLC lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 320.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,347 shares of the business services provider’s stock after buying an additional 31,508 shares during the quarter. Evolve Private Wealth LLC’s holdings in Omnicom Group were worth $3,114,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Activest Wealth Management lifted its holdings in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 296 shares during the period. Bayforest Capital Ltd acquired a new stake in Omnicom Group during the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in Omnicom Group during the 4th quarter worth about $26,000. Legacy Wealth Managment LLC ID raised its position in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. Finally, EFG International AG bought a new position in shares of Omnicom Group in the 4th quarter worth about $28,000. Institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OMC. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective on the stock. Citigroup decreased their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Barclays lifted their target price on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Finally, Morgan Stanley increased their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $71.36 on Monday. The business’s fifty day simple moving average is $75.38 and its 200 day simple moving average is $76.76. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The firm has a market capitalization of $20.34 billion, a P/E ratio of 182.99, a price-to-earnings-growth ratio of 0.43 and a beta of 0.64.

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

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is presently 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.