Concurrent Investment Advisors LLC Has $6.99 Million Holdings in Omnicom Group Inc. $OMC

Key Points

• Concurrent Investment Advisors increased its Omnicom Group stake by 41.3% in the second quarter, bringing its holdings to 95,929 shares valued at approximately $6.99 million. Institutional investors and hedge funds collectively own 91.97% of OMC.
• Analysts maintain a mixed outlook, with four Buy, five Hold, and two Sell ratings; the consensus is Hold with a $99 price target, compared with OMC’s opening price of $82.49.
• Omnicom reported quarterly revenue of $6.56 billion, up 63.4% year over year, though EPS of $2.65 slightly missed estimates. The company declared a quarterly dividend of $0.80, representing a 3.9% annualized yield.

Concurrent Investment Advisors LLC grew its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 41.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,929 shares of the business services provider's stock after acquiring an additional 28,030 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Omnicom Group were worth $6,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Pure Financial Advisors LLC grew its position in Omnicom Group by 3.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 4,464 shares of the business services provider's stock valued at $325,000 after purchasing an additional 135 shares during the period. Tranquilli Financial Advisor LLC raised its holdings in Omnicom Group by 2.0% during the second quarter. Tranquilli Financial Advisor LLC now owns 7,610 shares of the business services provider's stock worth $554,000 after buying an additional 148 shares during the last quarter. Wakefield Asset Management LLLP lifted its stake in shares of Omnicom Group by 2.6% in the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock valued at $477,000 after buying an additional 149 shares in the last quarter. Caldwell Trust Co lifted its stake in shares of Omnicom Group by 29.0% in the first quarter. Caldwell Trust Co now owns 662 shares of the business services provider's stock valued at $50,000 after buying an additional 149 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Omnicom Group by 39.1% during the first quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider's stock valued at $41,000 after buying an additional 153 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OMC has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Citigroup dropped their price target on shares of Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a "buy" rating and a $146.00 price target for the company. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price objective for the company. Finally, Weiss Ratings raised Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of "Hold" and a consensus price target of $99.00.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of Omnicom Group stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director owned 11,719 shares of the company's stock, valued at $1,039,826.87. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Omnicom Group Stock Performance

NYSE OMC opened at $82.49 on Friday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The firm has a market cap of $22.63 billion, a price-to-earnings ratio of 71.11, a PEG ratio of 0.71 and a beta of 0.65. The company has a fifty day moving average price of $82.83 and a 200-day moving average price of $78.70.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm had revenue of $6.56 billion during the quarter, compared to analysts' expectations of $6.44 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The business's revenue for the quarter was up 63.4% on a year-over-year basis. As a group, equities research analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.9%. Omnicom Group's dividend payout ratio (DPR) is 275.86%.

Omnicom Group 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.

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