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

Prestige Wealth Management Group LLC lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 14.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,319 shares of the business services provider’s stock after acquiring an additional 540 shares during the period. Prestige Wealth Management Group LLC’s holdings in Omnicom Group were worth $375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Twin City Private Wealth LLC boosted its stake in Omnicom Group by 5.4% in the fourth quarter. Twin City Private Wealth LLC now owns 19,510 shares of the business services provider’s stock valued at $1,692,000 after acquiring an additional 1,008 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Omnicom Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider’s stock valued at $1,982,518,000 after purchasing an additional 99,424 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Omnicom Group in the 4th quarter valued at about $883,000. LPL Financial LLC grew its stake in Omnicom Group by 15.7% during the 4th quarter. LPL Financial LLC now owns 219,326 shares of the business services provider’s stock worth $18,871,000 after buying an additional 29,756 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Omnicom Group during the fourth quarter worth approximately $9,842,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $79.45 on Tuesday. Omnicom Group Inc. has a 52 week low of $78.69 and a 52 week high of $107.00. The company has a 50-day moving average price of $83.62 and a 200 day moving average price of $92.94. The company has a market cap of $15.61 billion, a P/E ratio of 10.66, a PEG ratio of 1.94 and a beta of 0.98. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period in the prior year, the firm earned $2.20 EPS. Research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.52%. Omnicom Group’s payout ratio is currently 37.58%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OMC shares. UBS Group decreased their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Barclays decreased their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Omnicom Group 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.