Corient Private Wealth LP Grows Position in Omnicom Group Inc. $OMC

Corient Private Wealth LP increased its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 123,990 shares of the business services provider's stock after buying an additional 11,664 shares during the quarter. Corient Private Wealth LP's holdings in Omnicom Group were worth $9,031,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Omnicom Group by 82.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider's stock worth $138,000 after acquiring an additional 869 shares during the period. Gamco Investors INC. ET AL bought a new position in Omnicom Group during the second quarter valued at approximately $241,000. Gabelli Funds LLC bought a new position in Omnicom Group during the second quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. boosted its holdings in Omnicom Group by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider's stock worth $2,113,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Omnicom Group by 14.1% in the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider's stock worth $25,990,000 after purchasing an additional 44,746 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OMC shares. Zacks Research lowered shares of Omnicom Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Citigroup cut their price objective on Omnicom Group from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a "buy" rating and a $146.00 price objective for the company. Finally, Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They issued a "neutral" rating and a $89.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $99.00.

Omnicom Group Trading Up 0.0%

Shares of Omnicom Group stock opened at $88.32 on Monday. The company's fifty day simple moving average is $81.71 and its 200-day simple moving average is $78.24. The stock has a market capitalization of $24.23 billion, a PE ratio of 76.14, a P/E/G ratio of 0.59 and a beta of 0.64. 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.

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

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group's payout ratio is currently 275.86%.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director owned 11,719 shares in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

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.

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