DekaBank Deutsche Girozentrale grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 166.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 685,412 shares of the business services provider’s stock after acquiring an additional 428,640 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Omnicom Group were worth $55,702,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Clark Capital Management Group Inc. acquired a new stake in shares of Omnicom Group during the second quarter valued at about $17,298,000. New York State Teachers Retirement System grew its stake in shares of Omnicom Group by 4.3% during the first quarter. New York State Teachers Retirement System now owns 299,676 shares of the business services provider’s stock valued at $21,873,000 after acquiring an additional 12,474 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Omnicom Group by 161.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 121,018 shares of the business services provider’s stock worth $8,833,000 after purchasing an additional 74,784 shares during the last quarter. Keybank National Association OH lifted its holdings in Omnicom Group by 15.9% in the first quarter. Keybank National Association OH now owns 26,849 shares of the business services provider’s stock worth $1,960,000 after acquiring an additional 3,687 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in Omnicom Group by 10.7% in the first quarter. IFM Investors Pty Ltd now owns 14,522 shares of the business services provider’s stock worth $1,060,000 after acquiring an additional 1,398 shares during the last quarter.
In other news, Chairman John Wren sold 60,541 shares of Omnicom Group stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total transaction of $4,833,593.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew Castellaneta sold 2,000 shares of Omnicom Group stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $80.16, for a total value of $160,320.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, July 17th. The business services provider reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.07. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Omnicom Group had a return on equity of 43.86% and a net margin of 8.89%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post 6.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.31%. Omnicom Group’s dividend payout ratio (DPR) is presently 45.22%.
OMC has been the topic of a number of recent research reports. Barclays reissued a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a report on Sunday, July 21st. BMO Capital Markets cut shares of Omnicom Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $88.00 to $86.00 in a report on Sunday, July 14th. Finally, ValuEngine cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.33.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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