B. Riley Wealth Advisors Inc. Has $687,000 Holdings in Omnicom Group Inc. (NYSE:OMC)

B. Riley Wealth Advisors Inc. increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 23.8% in the second quarter, Holdings Channel reports. The firm owned 7,601 shares of the business services provider’s stock after buying an additional 1,459 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Omnicom Group were worth $687,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of Omnicom Group by 3.2% during the second quarter. NewEdge Advisors LLC now owns 41,122 shares of the business services provider’s stock worth $3,689,000 after purchasing an additional 1,261 shares during the period. Creative Planning grew its stake in Omnicom Group by 5.0% in the second quarter. Creative Planning now owns 58,803 shares of the business services provider’s stock valued at $5,275,000 after acquiring an additional 2,787 shares during the period. Ascent Group LLC grew its stake in Omnicom Group by 11.5% in the second quarter. Ascent Group LLC now owns 3,000 shares of the business services provider’s stock valued at $269,000 after acquiring an additional 310 shares during the period. Driehaus Capital Management LLC acquired a new position in Omnicom Group in the second quarter valued at about $200,000. Finally, Mackenzie Financial Corp grew its stake in Omnicom Group by 3.0% in the second quarter. Mackenzie Financial Corp now owns 46,338 shares of the business services provider’s stock valued at $4,157,000 after acquiring an additional 1,370 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

OMC opened at $101.55 on Friday. Omnicom Group Inc. has a 52-week low of $72.62 and a 52-week high of $104.80. The firm has a market capitalization of $19.89 billion, a PE ratio of 13.72, a PEG ratio of 2.38 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The business’s 50-day simple moving average is $98.40 and its 200 day simple moving average is $94.69.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. Omnicom Group’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.76%. Omnicom Group’s payout ratio is presently 37.84%.

Analyst Ratings Changes

A number of research analysts have issued reports on OMC shares. Macquarie reissued an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. Bank of America boosted their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, UBS Group upped their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.30.

Insider Buying and Selling

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Omnicom Group Company Profile

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.