ProVise Management Group LLC Buys 12,787 Shares of Omnicom Group Inc. $OMC

Key Points

• ProVise Management Group LLC raised its stake in Omnicom by 10.7%, buying 12,787 shares to hold 132,430 shares (about 0.07% of the company) worth roughly $10.8 million at quarter-end.
• Other large changes included First Eagle opening a ~$515.1 million position and JPMorgan boosting its holdings to 6,213,705 shares, with institutional investors owning about 91.97% of OMC.
• Omnicom authorized a $5.0 billion share buyback (up to ~38.1% of shares) and declared a quarterly dividend of $0.80 (annualized $3.20, ~3.8% yield), after reporting a quarter where EPS missed estimates ($2.59 vs. $2.94) despite 27.9% revenue growth.

ProVise Management Group LLC lifted its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,430 shares of the business services provider's stock after buying an additional 12,787 shares during the quarter. ProVise Management Group LLC owned approximately 0.07% of Omnicom Group worth $10,797,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. First Eagle Investment Management LLC bought a new stake in Omnicom Group during the 3rd quarter worth approximately $515,145,000. JPMorgan Chase & Co. boosted its holdings in Omnicom Group by 117.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider's stock valued at $447,017,000 after purchasing an additional 3,362,411 shares during the period. Bank of New York Mellon Corp grew its position in shares of Omnicom Group by 73.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider's stock valued at $542,376,000 after purchasing an additional 2,820,553 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Omnicom Group by 38.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider's stock valued at $324,782,000 after purchasing an additional 1,255,197 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Omnicom Group in the second quarter worth $67,048,000. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OMC shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Citigroup upped their target price on Omnicom Group from $103.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Barclays raised their price target on Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday, February 23rd. Morgan Stanley started coverage on Omnicom Group in a research report on Tuesday, December 16th. They set an "equal weight" rating and a $88.00 price target for the company. Finally, Bank of America reissued an "underperform" rating and set a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Omnicom Group currently has a consensus rating of "Hold" and an average price target of $95.00.

Omnicom Group Stock Performance

Omnicom Group stock opened at $84.90 on Monday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market cap of $26.35 billion, a P/E ratio of 173.27, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71. The firm's fifty day moving average price is $77.83 and its 200-day moving average price is $77.05.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The firm's revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 earnings per share. On average, equities research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, March 11th. Omnicom Group's dividend payout ratio is presently 653.06%.

Omnicom Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

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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