Prestige Wealth Management Group LLC Grows Stock Position in Omnicom Group Inc. (NYSE:OMC)

Prestige Wealth Management Group LLC lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 24.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,779 shares of the business services provider’s stock after buying an additional 734 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Omnicom Group were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Brophy Wealth Management LLC purchased a new stake in Omnicom Group in the 3rd quarter worth approximately $526,000. Vestcor Inc increased its holdings in shares of Omnicom Group by 43.3% during the 3rd quarter. Vestcor Inc now owns 14,558 shares of the business services provider’s stock valued at $1,505,000 after purchasing an additional 4,399 shares in the last quarter. Guardian Wealth Management Inc. lifted its stake in shares of Omnicom Group by 2.5% in the 3rd quarter. Guardian Wealth Management Inc. now owns 27,549 shares of the business services provider’s stock valued at $2,848,000 after purchasing an additional 661 shares during the period. Barclays PLC boosted its holdings in Omnicom Group by 1.7% during the third quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock worth $84,741,000 after buying an additional 13,637 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in Omnicom Group by 7.8% during the third quarter. Continuum Advisory LLC now owns 3,965 shares of the business services provider’s stock valued at $416,000 after buying an additional 287 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of analyst reports. Wells Fargo & Company downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays raised their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. UBS Group upped their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This represents a 14.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $92.82 on Tuesday. The firm has a 50-day simple moving average of $102.43 and a 200-day simple moving average of $97.34. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $18.11 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. Omnicom Group Inc. has a 52 week low of $82.26 and a 52 week high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter in the prior year, the firm earned $1.86 EPS. On average, equities analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, December 20th. Omnicom Group’s payout ratio is currently 38.25%.

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.