Greenup Street Wealth Management LLC Acquires 23,458 Shares of Omnicom Group Inc. $OMC

Greenup Street Wealth Management LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 661.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,005 shares of the business services provider’s stock after purchasing an additional 23,458 shares during the period. Greenup Street Wealth Management LLC’s holdings in Omnicom Group were worth $2,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OMC. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in Omnicom Group by 4.1% in the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider’s stock worth $305,000 after buying an additional 147 shares during the period. Wakefield Asset Management LLLP raised its holdings in Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock valued at $477,000 after acquiring an additional 149 shares during the period. Hartford Financial Management Inc. raised its holdings in Omnicom Group by 27.0% during the 4th quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 162 shares during the period. Blake Schutter Theil Wealth Advisors LLC raised its holdings in Omnicom Group by 3.5% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock valued at $395,000 after acquiring an additional 167 shares during the period. Finally, Binnacle Investments Inc lifted its position in shares of Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OMC shares. Morgan Stanley raised their price target on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Citigroup decreased their price objective on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Argus raised Omnicom Group to a “hold” rating in a report on Thursday, March 26th. UBS Group raised their target price on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, The Goldman Sachs Group began coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Stock Up 1.2%

Shares of NYSE:OMC opened at $73.82 on Thursday. The firm has a fifty day moving average price of $75.26 and a two-hundred day moving average price of $76.80. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $87.17. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 189.30, a PEG ratio of 0.44 and a beta of 0.63.

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

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s payout ratio is presently 820.51%.

Omnicom Group Company 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.