ProVise Management Group LLC Boosts Holdings in Omnicom Group Inc. $OMC

ProVise Management Group LLC lifted its holdings in Omnicom Group Inc. (NYSE:OMC) by 10.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 132,430 shares of the business services provider’s stock after acquiring an additional 12,787 shares during the quarter. ProVise Management Group LLC’s holdings in Omnicom Group were worth $10,797,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. raised its position in Omnicom Group by 16.1% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 73,713 shares of the business services provider’s stock worth $5,297,000 after purchasing an additional 10,211 shares during the period. Savant Capital LLC boosted its position in Omnicom Group by 2.5% during the second quarter. Savant Capital LLC now owns 42,943 shares of the business services provider’s stock valued at $3,089,000 after buying an additional 1,029 shares during the period. Vestmark Advisory Solutions Inc. bought a new position in shares of Omnicom Group during the second quarter valued at about $415,000. KCM Investment Advisors LLC grew its stake in shares of Omnicom Group by 13.5% during the second quarter. KCM Investment Advisors LLC now owns 18,706 shares of the business services provider’s stock valued at $1,346,000 after buying an additional 2,224 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of Omnicom Group by 44.5% in the second quarter. Penserra Capital Management LLC now owns 9,916 shares of the business services provider’s stock worth $713,000 after buying an additional 3,052 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

OMC stock opened at $84.90 on Monday. The stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 173.27, a PEG ratio of 0.81 and a beta of 0.71. The firm’s 50-day moving average price is $77.83 and its two-hundred day moving average price is $77.05. 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 Inc. has a 12-month low of $66.33 and a 12-month high of $89.27.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 EPS. As a group, equities analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group announced that its Board of Directors has authorized a share buyback 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 repurchase up to 38.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.8%. Omnicom Group’s dividend payout ratio (DPR) is 653.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their target price on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 20th. UBS Group raised their price target on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Morgan Stanley began coverage on Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. 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 research note on Monday, January 5th. Four 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

About Omnicom Group

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.