ProVise Management Group LLC Has $9.42 Million Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Key Points

• ProVise Management Group LLC increased its stake in Omnicom Group Inc. by 11.9% to approximately $9.4 million, as other institutional investors also boosted their holdings.
• Omnicom Group reported a quarterly earnings of $2.05 per share, exceeding analyst estimates, and achieved a revenue of $4.02 billion, surpassing expectations of $3.95 billion.
• The company announced a quarterly dividend of $0.70 per share, representing a 3.9% dividend yield, with an anticipated payout ratio of 40.17%.

ProVise Management Group LLC increased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,599 shares of the business services provider's stock after buying an additional 12,088 shares during the quarter. ProVise Management Group LLC owned about 0.06% of Omnicom Group worth $9,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. grew its stake in shares of Omnicom Group by 22.4% during the first quarter. Jefferies Financial Group Inc. now owns 35,497 shares of the business services provider's stock valued at $2,943,000 after acquiring an additional 6,492 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Omnicom Group by 39.1% during the 1st quarter. Harbour Investments Inc. now owns 616 shares of the business services provider's stock worth $51,000 after purchasing an additional 173 shares during the period. Foster & Motley Inc. raised its holdings in shares of Omnicom Group by 0.6% during the first quarter. Foster & Motley Inc. now owns 109,599 shares of the business services provider's stock valued at $9,087,000 after buying an additional 612 shares during the last quarter. FSB Premier Wealth Management Inc. raised its holdings in shares of Omnicom Group by 12.7% during the first quarter. FSB Premier Wealth Management Inc. now owns 7,522 shares of the business services provider's stock valued at $624,000 after buying an additional 849 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in shares of Omnicom Group during the first quarter valued at approximately $789,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on OMC. Citigroup reissued a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Wells Fargo & Company decreased 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 note on Wednesday, July 16th. JPMorgan Chase & Co. decreased 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 note on Thursday, July 10th. Barclays lowered shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Bank of America raised 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. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Price Performance

Omnicom Group stock traded down $0.94 during trading hours on Friday, hitting $71.11. 2,435,325 shares of the stock were exchanged, compared to its average volume of 4,472,830. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The business's 50-day moving average is $72.56 and its two-hundred day moving average is $77.26. The stock has a market capitalization of $13.78 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business earned $1.95 earnings per share. Omnicom Group's quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.9%. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

About Omnicom Group

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.