Avior Wealth Management LLC Has $930,000 Stock Position in Omnicom Group Inc. $OMC

Key Points

• Avior Wealth Management LLC significantly increased its stake in Omnicom Group by 3,914.0% in the second quarter, now holding shares valued at $930,000.
• Analysts have a consensus rating of "Moderate Buy" for Omnicom Group, with a target price of $96.29 following various upgrades and downgrades from major investment firms.
• Omnicom Group declared a quarterly dividend of $0.70 per share, payable on October 10th, reflecting a 3.5% yield and a payout ratio of 40.17%.

Avior Wealth Management LLC increased its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 3,914.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,925 shares of the business services provider's stock after acquiring an additional 12,603 shares during the quarter. Avior Wealth Management LLC's holdings in Omnicom Group were worth $930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in Omnicom Group in the first quarter valued at approximately $34,000. Gen Wealth Partners Inc acquired a new position in Omnicom Group in the first quarter valued at approximately $36,000. Versant Capital Management Inc lifted its stake in Omnicom Group by 45.7% in the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after buying an additional 143 shares during the period. Golden State Wealth Management LLC lifted its stake in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after buying an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in Omnicom Group in the first quarter valued at approximately $43,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Monday, June 23rd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Omnicom Group Trading Up 2.7%

Shares of Omnicom Group stock opened at $79.10 on Tuesday. The stock has a fifty day simple moving average of $76.20 and a 200 day simple moving average of $75.09. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00. The company has a market capitalization of $15.32 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.97. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. Omnicom Group's revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is 40.17%.

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.

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