Van ECK Associates Corp Purchases 41,466 Shares of Omnicom Group Inc. $OMC

Van ECK Associates Corp increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 54.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,227 shares of the business services provider’s stock after buying an additional 41,466 shares during the period. Van ECK Associates Corp’s holdings in Omnicom Group were worth $8,538,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Omnicom Group in the 2nd quarter worth about $2,082,476,000. State Street Corp raised its holdings in shares of Omnicom Group by 40.4% in the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after acquiring an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Omnicom Group during the 2nd quarter valued at about $914,156,000. Geode Capital Management LLC boosted its position in shares of Omnicom Group by 57.1% during the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after acquiring an additional 3,117,188 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Omnicom Group by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider’s stock worth $512,927,000 after purchasing an additional 33,557 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 1.8%

Shares of OMC opened at $85.93 on Wednesday. The stock has a market capitalization of $23.57 billion, a P/E ratio of 74.08, a PEG ratio of 0.58 and a beta of 0.65. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $82.27 and a two-hundred day simple moving average of $78.46.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. Omnicom Group’s revenue was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, research analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s payout ratio is currently 275.86%.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Citigroup dropped their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $99.00.

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.