Pinkerton Wealth LLC Purchases 9,291 Shares of Omnicom Group Inc. $OMC

Pinkerton Wealth LLC increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 16.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 65,522 shares of the business services provider’s stock after acquiring an additional 9,291 shares during the quarter. Pinkerton Wealth LLC’s holdings in Omnicom Group were worth $5,342,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC grew its position in Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after buying an additional 319 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Omnicom Group by 289.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Capital A Wealth Management LLC boosted its position in shares of Omnicom Group by 548.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 318 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of Omnicom Group by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 202 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Omnicom Group during the third quarter worth about $39,000. Institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

OMC has been the topic of several research analyst reports. Citigroup upped their price objective on shares of Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. UBS Group boosted their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Bank of America restated an “underperform” rating and set a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Finally, Barclays lifted their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.00.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $84.01 on Tuesday. The stock’s 50-day moving average is $77.91 and its 200 day moving average is $77.10. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 171.44, a P/E/G ratio of 0.81 and a beta of 0.71. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.27. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60.

Omnicom Group (NYSE:OMC) last issued 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%.During the same period in the previous year, the business posted $2.41 earnings per share. Omnicom Group’s quarterly revenue was up 27.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm 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 payout ratio is presently 653.06%.

Omnicom Group declared that its Board of Directors has approved a share repurchase program on Wednesday, February 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 38.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.