Kovitz Investment Group Partners LLC Has $4.22 Million Stake in Omnicom Group Inc. (NYSE:OMC)

Kovitz Investment Group Partners LLC increased its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 53.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,507 shares of the business services provider's stock after buying an additional 15,071 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Omnicom Group were worth $4,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp lifted its position in shares of Omnicom Group by 8.2% during the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider's stock worth $16,723,000 after buying an additional 14,153 shares during the period. Central Pacific Bank Trust Division raised its position in 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 purchasing an additional 401 shares during the last quarter. SG Americas Securities LLC raised its position in Omnicom Group by 37.0% in the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider's stock valued at $5,784,000 after purchasing an additional 17,414 shares during the last quarter. Assetmark Inc. raised its position in Omnicom Group by 2.0% in the 3rd quarter. Assetmark Inc. now owns 489,039 shares of the business services provider's stock valued at $50,562,000 after purchasing an additional 9,774 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Omnicom Group by 40.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider's stock valued at $3,077,000 after purchasing an additional 8,643 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Omnicom Group Stock Performance

Shares of OMC traded down $10.60 during mid-day trading on Monday, reaching $92.82. The company's stock had a trading volume of 10,938,981 shares, compared to its average volume of 1,579,864. Omnicom Group Inc. has a 1-year low of $82.26 and a 1-year high of $107.00. The stock has a market cap of $18.11 billion, a P/E ratio of 12.68, a PEG ratio of 2.32 and a beta of 0.94. The business has a 50-day simple moving average of $102.43 and a two-hundred day simple moving average of $97.34. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $3.88 billion during the quarter, compared to analysts' expectations of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period last year, the firm posted $1.86 earnings per share. As a group, equities research analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. Omnicom Group's dividend payout ratio (DPR) is presently 38.25%.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares of the company's stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. Barclays boosted their target price on Omnicom Group from $110.00 to $121.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Bank of America boosted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research report on Thursday, September 5th. Finally, UBS Group boosted their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.11.

Omnicom Group Company 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.