Kovitz Investment Group Partners LLC Purchases 31,271 Shares of Omnicom Group Inc. $OMC

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in Omnicom Group Inc. by 214.8% in the first quarter, owning 45,830 shares valued at $3.8 million.
• Omnicom reported better-than-expected earnings of $2.05 per share for the quarter, surpassing estimates, and showed a 4.2% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.70 per share, providing a yield of 3.6%, with the ex-dividend date set for September 2nd.

Kovitz Investment Group Partners LLC boosted its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 214.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,830 shares of the business services provider's stock after buying an additional 31,271 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Omnicom Group were worth $3,800,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. lifted its holdings in Omnicom Group by 153.8% during the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after buying an additional 200 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Omnicom Group during the 1st quarter worth $34,000. Versant Capital Management Inc lifted its holdings in Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock worth $38,000 after buying an additional 143 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Omnicom Group by 708.8% during the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock worth $40,000 after buying an additional 404 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after buying an additional 343 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Trading Up 2.6%

Shares of OMC traded up $2.0480 during trading hours on Friday, reaching $79.5280. The stock had a trading volume of 4,736,853 shares, compared to its average volume of 3,263,023. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The firm has a 50-day moving average of $73.44 and a 200 day moving average of $76.07. The company has a market cap of $15.41 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.58 and a beta of 0.94.

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

Omnicom Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research report on Monday, June 23rd. JPMorgan Chase & Co. dropped their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, Wells Fargo & Company dropped their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group 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.