Corient Private Wealth LP Makes New $9.03 Million Investment in Omnicom Group Inc. $OMC

Corient Private Wealth LP bought a new stake in Omnicom Group Inc. (NYSE:OMC) during the 2nd quarter, Holdings Channel reports. The firm bought 123,990 shares of the business services provider’s stock, valued at approximately $9,031,000.

A number of other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock worth $138,000 after purchasing an additional 869 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in Omnicom Group in the 2nd quarter valued at $241,000. Gabelli Funds LLC purchased a new position in Omnicom Group in the 2nd quarter valued at $1,061,000. Daiwa Securities Group Inc. grew its position in Omnicom Group by 5.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after buying an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Omnicom Group by 14.1% in the 2nd quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after buying an additional 44,746 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.0%

Shares of NYSE OMC opened at $88.32 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. The firm has a 50-day moving average price of $81.71 and a 200 day moving average price of $78.24. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 76.14, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the firm posted $2.05 EPS. The firm’s quarterly revenue was up 63.4% on a year-over-year basis. Equities research analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is presently 275.86%.

Analyst Ratings Changes

A number of brokerages have commented on OMC. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Finally, Citigroup reduced their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.00.

Insider Activity at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,385 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director owned 11,719 shares of the company’s stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

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.