Omnicom Group Inc. $OMC Stock Position Raised by Saudi Central Bank

Saudi Central Bank grew its position in shares of Omnicom Group Inc. (NYSE:OMC) by 71.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,949 shares of the business services provider’s stock after acquiring an additional 8,337 shares during the period. Saudi Central Bank’s holdings in Omnicom Group were worth $1,453,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OMC. BlackRock Inc. bought a new position in Omnicom Group during the second quarter valued at approximately $2,082,476,000. State Street Corp increased its stake in shares of Omnicom Group by 40.4% during the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after purchasing an additional 6,813,441 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Omnicom Group during the 2nd quarter worth $914,156,000. Geode Capital Management LLC raised its holdings 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 purchasing an additional 3,117,188 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Omnicom Group by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider’s stock valued at $512,927,000 after purchasing an additional 33,557 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

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

Analyst Ratings Changes

OMC has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Citigroup cut their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report 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 price target for the company. Wells Fargo & Company upped their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Zacks Research lowered Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Four equities 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Stock Performance

Shares of OMC opened at $81.22 on Wednesday. The company has a market capitalization of $22.28 billion, a PE ratio of 70.02, a price-to-earnings-growth ratio of 0.71 and a beta of 0.65. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The company’s fifty day moving average price is $83.17 and its 200 day moving average price is $78.94.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The firm’s revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. As a group, analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. Omnicom Group’s dividend payout ratio (DPR) is 275.86%.

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.