Cyndeo Wealth Partners LLC Grows Stock Holdings in Omnicom Group Inc. $OMC

Cyndeo Wealth Partners LLC grew its stake in Omnicom Group Inc. (NYSE:OMC) by 2,407.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,494 shares of the business services provider’s stock after purchasing an additional 106,087 shares during the period. Cyndeo Wealth Partners LLC owned approximately 0.06% of Omnicom Group worth $9,009,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Cresset Asset Management LLC grew its holdings in shares of Omnicom Group by 6.7% in the first quarter. Cresset Asset Management LLC now owns 8,561 shares of the business services provider’s stock worth $715,000 after purchasing an additional 540 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Omnicom Group by 18.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,208 shares of the business services provider’s stock worth $598,000 after purchasing an additional 1,125 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Omnicom Group by 3.8% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 41,038 shares of the business services provider’s stock valued at $3,402,000 after buying an additional 1,511 shares during the last quarter. Capital Fund Management S.A. boosted its stake in Omnicom Group by 1,651.8% in the first quarter. Capital Fund Management S.A. now owns 48,107 shares of the business services provider’s stock valued at $3,989,000 after acquiring an additional 51,207 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Omnicom Group by 12.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 648,165 shares of the business services provider’s stock worth $53,741,000 after purchasing an additional 69,830 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

OMC opened at $80.26 on Friday. The firm’s fifty day simple moving average is $75.53 and its two-hundred day simple moving average is $75.06. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $89.81. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.30 and a beta of 0.75. 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 (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.07. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 EPS. Equities analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.0%. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 19th. Omnicom Group’s dividend payout ratio (DPR) is 41.36%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OMC. UBS Group boosted their price objective on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays increased their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Morgan Stanley initiated coverage on Omnicom Group in a research note on Tuesday. They issued an “equal weight” rating and a $88.00 price target for the company. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $92.57.

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.