Corient Private Wealth LP Invests $9.03 Million in Omnicom Group Inc. $OMC

Corient Private Wealth LP bought a new position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 123,990 shares of the business services provider's stock, valued at approximately $9,031,000.

Several other large investors have also recently bought and sold shares of OMC. Activest Wealth Management raised its stake 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 in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Omnicom Group during the 2nd quarter worth about $25,000. Elyxium Wealth LLC acquired a new position in shares of Omnicom Group during the 4th quarter worth about $26,000. Legacy Wealth Managment LLC ID increased its holdings 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 valued at $27,000 after acquiring an additional 176 shares during the last quarter. Finally, EFG International AG purchased a new position in shares of Omnicom Group in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Price Performance

OMC stock opened at $88.32 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $24.23 billion, a P/E ratio of 76.14, a PEG ratio of 0.59 and a beta of 0.64. The business has a 50 day simple moving average of $81.71 and a 200-day simple moving average of $78.24. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57.

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 analysts' consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. The business's revenue was up 63.4% compared to the same quarter last year. As a group, equities analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given 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 dividend payout ratio (DPR) is presently 275.86%.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of Omnicom Group stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

OMC has been the topic of several research analyst reports. Citigroup cut their target price on Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Omnicom Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a "neutral" rating and a $89.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of 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, Wells Fargo & Company upped their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the company an "overweight" rating in a report 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $99.00.

About Omnicom Group

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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