Advisor Partners LLC boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,593 shares of the business services provider’s stock after buying an additional 293 shares during the period. Advisor Partners LLC’s holdings in Omnicom Group were worth $381,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. TD Asset Management Inc. raised its stake in Omnicom Group by 94.2% in the second quarter. TD Asset Management Inc. now owns 396,635 shares of the business services provider’s stock worth $32,881,000 after buying an additional 192,411 shares in the last quarter. Tdam USA Inc. raised its stake in Omnicom Group by 0.5% in the second quarter. Tdam USA Inc. now owns 16,379 shares of the business services provider’s stock worth $1,365,000 after buying an additional 74 shares in the last quarter. Norris Perne & French LLP MI raised its stake in Omnicom Group by 6.2% in the second quarter. Norris Perne & French LLP MI now owns 71,170 shares of the business services provider’s stock worth $5,900,000 after buying an additional 4,141 shares in the last quarter. ARP Americas LLC purchased a new stake in Omnicom Group during the second quarter worth approximately $264,000. Finally, Rand Wealth LLC purchased a new stake in Omnicom Group during the second quarter worth approximately $266,000. 98.68% of the stock is owned by institutional investors.
Omnicom Group Inc. (OMC) opened at 78.82 on Thursday. Omnicom Group Inc. has a 12-month low of $77.50 and a 12-month high of $89.66. The firm has a market cap of $18.19 billion, a P/E ratio of 15.92 and a beta of 1.25. The company has a 50-day moving average price of $81.02 and a 200-day moving average price of $83.50.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the business posted $1.36 EPS. Omnicom Group’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts predict that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is presently 44.44%.
A number of research firms have commented on OMC. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a research note on Saturday, July 22nd. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. Omnicom Group currently has a consensus rating of “Hold” and a consensus target price of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now directly owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. Insiders have sold a total of 24,183 shares of company stock worth $2,046,845 in the last quarter. 1.10% of the stock is currently owned by company insiders.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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