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

Key Points

• Evolve Private Wealth LLC boosted its Omnicom Group stake by 320.2% in the first quarter, buying 31,508 additional shares and bringing its total holdings to 41,347 shares worth about $3.11 million.
• Omnicom reported strong quarterly results, with EPS of $1.90 beating estimates and revenue of $6.24 billion coming in above expectations; revenue was also up 69.2% year over year.
• The company declared a quarterly dividend of $0.80 per share and currently offers an annualized yield of 4.5%, while analysts maintain a consensus Hold rating with a $99.00 price target.

Evolve Private Wealth LLC increased its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 320.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,347 shares of the business services provider's stock after purchasing an additional 31,508 shares during the period. Evolve Private Wealth LLC's holdings in Omnicom Group were worth $3,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OMC. Leonard Rickey Investment Advisors P.L.L.C. increased its position in Omnicom Group by 4.1% during the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider's stock worth $305,000 after buying an additional 147 shares during the period. Wakefield Asset Management LLLP boosted its position 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 acquiring an additional 149 shares during the period. Hartford Financial Management Inc. boosted its position in shares of Omnicom Group by 27.0% in the fourth quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider's stock valued at $62,000 after acquiring an additional 162 shares during the period. Blake Schutter Theil Wealth Advisors LLC grew its stake in shares of Omnicom Group by 3.5% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider's stock valued at $395,000 after acquiring an additional 167 shares in the last quarter. Finally, Binnacle Investments Inc grew its stake in shares of Omnicom Group by 17.7% in the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider's stock valued at $81,000 after acquiring an additional 169 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Up 0.0%

Shares of OMC stock opened at $71.36 on Monday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The stock's fifty day moving average price is $75.38 and its two-hundred day moving average price is $76.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. The company has a market cap of $20.34 billion, a PE ratio of 182.99, a P/E/G ratio of 0.43 and a beta of 0.64.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. Equities analysts predict that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, June 10th. Omnicom Group's dividend payout ratio is currently 820.51%.

Wall Street Analysts Forecast Growth

OMC has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. The Goldman Sachs Group began coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $146.00 price target for the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They set a "neutral" rating and a $89.00 price objective on the stock. Finally, UBS Group lifted their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a "buy" rating in a report on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group presently has an average rating of "Hold" and a consensus price target of $99.00.

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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