ProVise Management Group LLC Acquires 6,044 Shares of Omnicom Group Inc. $OMC

ProVise Management Group LLC increased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 5.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 119,643 shares of the business services provider’s stock after acquiring an additional 6,044 shares during the period. ProVise Management Group LLC’s holdings in Omnicom Group were worth $8,607,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OMC. Pacer Advisors Inc. boosted its stake in shares of Omnicom Group by 17,506.1% during the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider’s stock valued at $227,512,000 after purchasing an additional 2,728,494 shares during the period. Baird Financial Group Inc. lifted its holdings in Omnicom Group by 44.5% during the 1st quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock valued at $323,040,000 after buying an additional 1,199,725 shares in the last quarter. AQR Capital Management LLC boosted its position in Omnicom Group by 1,836.5% in the 1st quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider’s stock valued at $89,114,000 after buying an additional 1,030,633 shares during the period. Goldman Sachs Group Inc. grew its stake in Omnicom Group by 42.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider’s stock worth $245,909,000 after acquiring an additional 887,415 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Omnicom Group in the 1st quarter worth about $67,637,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Finally, Barclays increased their price target on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.57.

Omnicom Group Stock Down 1.3%

Omnicom Group stock opened at $72.13 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The firm has a market cap of $13.92 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.43 and a beta of 0.94. The business has a fifty day moving average of $76.72 and a two-hundred day moving average of $75.11. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $105.99.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $2.03 EPS. On average, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

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.