Prestige Wealth Management Group LLC Purchases 273 Shares of Omnicom Group Inc. (NYSE:OMC)

Prestige Wealth Management Group LLC grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 9.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,045 shares of the business services provider’s stock after buying an additional 273 shares during the period. Prestige Wealth Management Group LLC’s holdings in Omnicom Group were worth $275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Beutel Goodman & Co Ltd. grew its position in Omnicom Group by 1.0% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock valued at $363,148,000 after acquiring an additional 42,075 shares during the last quarter. Boston Partners boosted its stake in shares of Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Omnicom Group by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares during the last quarter. Lazard Asset Management LLC increased its stake in Omnicom Group by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after buying an additional 165,136 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Omnicom Group by 7.7% during the 4th quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after buying an additional 186,562 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Omnicom Group

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

Omnicom Group Stock Down 1.2 %

Shares of NYSE:OMC traded down $1.17 during trading on Friday, reaching $98.74. The stock had a trading volume of 1,063,385 shares, compared to its average volume of 1,567,487. The firm’s 50-day simple moving average is $94.40 and its 200 day simple moving average is $93.22. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $102.13. The company has a market capitalization of $19.34 billion, a P/E ratio of 13.34, a PEG ratio of 2.36 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. Omnicom Group’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.81 earnings per share. As a group, research analysts expect that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America upped their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday. Macquarie restated an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, UBS Group increased their price target 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.30.

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.