Moran Wealth Management LLC Has $2.56 Million Holdings in Omnicom Group Inc. $OMC

Moran Wealth Management LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 56.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,399 shares of the business services provider’s stock after selling 41,195 shares during the period. Moran Wealth Management LLC’s holdings in Omnicom Group were worth $2,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bollard Group LLC raised its stake in Omnicom Group by 6.0% in the 2nd quarter. Bollard Group LLC now owns 2,569 shares of the business services provider’s stock valued at $185,000 after acquiring an additional 145 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Omnicom Group by 4.3% in the third quarter. Geneos Wealth Management Inc. now owns 3,746 shares of the business services provider’s stock valued at $305,000 after purchasing an additional 156 shares during the period. Resonant Capital Advisors LLC lifted its stake in shares of Omnicom Group by 2.7% during the 2nd quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock worth $457,000 after buying an additional 168 shares during the last quarter. Binnacle Investments Inc boosted its holdings in shares of Omnicom Group by 17.7% during the 2nd quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after buying an additional 169 shares during the period. Finally, EPG Wealth Management LLC boosted its holdings in shares of Omnicom Group by 2.3% during the 2nd quarter. EPG Wealth Management LLC now owns 7,738 shares of the business services provider’s stock worth $557,000 after buying an additional 175 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Up 0.3%

OMC opened at $79.05 on Friday. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.31 and a beta of 0.74. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $89.35. The company has a 50-day simple moving average of $76.09 and a 200 day simple moving average of $75.98.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.03 EPS. Analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s dividend payout ratio (DPR) is 47.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OMC shares. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Barclays lifted their price target on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Morgan Stanley started coverage on Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective on the stock. UBS Group lifted their target price on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Bank of America restated an “underperform” rating and issued a $77.00 price target (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and an average price target of $92.14.

Omnicom Group Profile

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.