Continuum Advisory LLC Acquires 287 Shares of Omnicom Group Inc. (NYSE:OMC)

Continuum Advisory LLC lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,965 shares of the business services provider’s stock after buying an additional 287 shares during the period. Continuum Advisory LLC’s holdings in Omnicom Group were worth $416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp grew its stake in Omnicom Group by 8.2% in the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after purchasing an additional 14,153 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Omnicom Group by 16.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after buying an additional 401 shares during the last quarter. Assetmark Inc. grew its stake in shares of Omnicom Group by 2.0% in the third quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock valued at $50,562,000 after buying an additional 9,774 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Omnicom Group by 40.9% during the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after buying an additional 8,643 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. raised its position in Omnicom Group by 569.2% during the third quarter. Transamerica Financial Advisors Inc. now owns 10,881 shares of the business services provider’s stock worth $1,125,000 after acquiring an additional 9,255 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. UBS Group boosted their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Macquarie upped their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company reduced their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.89.

Omnicom Group Stock Performance

OMC opened at $92.46 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The business has a fifty day simple moving average of $102.43 and a 200 day simple moving average of $97.34. Omnicom Group Inc. has a 1 year low of $82.26 and a 1 year high of $107.00. The company has a market capitalization of $18.04 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. Research analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

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.