Omnicom Group Inc. $OMC Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in Omnicom Group Inc. (NYSE:OMC) by 82.0% in the fourth quarter, Holdings Channel reports. The fund owned 19,347 shares of the business services provider’s stock after purchasing an additional 8,716 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Omnicom Group were worth $1,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Activest Wealth Management boosted its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Omnicom Group in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in Omnicom Group in the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC boosted its holdings in Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its holdings in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OMC shares. Argus upgraded shares of Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Barclays boosted their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley boosted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Citigroup decreased their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.71.

Omnicom Group Price Performance

Omnicom Group stock opened at $74.95 on Friday. The company’s 50 day simple moving average is $75.83 and its 200-day simple moving average is $76.47. The company has a market capitalization of $21.36 billion, a price-to-earnings ratio of 192.19, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The business’s revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.70 EPS. As a group, equities research analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group’s payout ratio is 820.51%.

Omnicom Group announced that its board has initiated a share repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 38.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.