Welch & Forbes LLC raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,620 shares of the business services provider’s stock after buying an additional 12,048 shares during the period. Welch & Forbes LLC owned about 0.10% of Omnicom Group worth $17,587,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of Omnicom Group by 2.5% during the third quarter. Pacer Advisors Inc. now owns 65,135 shares of the business services provider’s stock valued at $5,100,000 after purchasing an additional 1,595 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Omnicom Group by 22.1% during the third quarter. Artemis Investment Management LLP now owns 348,604 shares of the business services provider’s stock valued at $27,254,000 after purchasing an additional 63,159 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Omnicom Group by 257.9% during the third quarter. Gradient Investments LLC now owns 383 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 276 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Omnicom Group by 3.2% during the third quarter. Crossmark Global Holdings Inc. now owns 31,422 shares of the business services provider’s stock valued at $2,460,000 after purchasing an additional 960 shares during the last quarter. Finally, Pennsylvania Trust Co grew its stake in shares of Omnicom Group by 1.6% during the third quarter. Pennsylvania Trust Co now owns 28,359 shares of the business services provider’s stock valued at $2,221,000 after purchasing an additional 450 shares during the last quarter.
In other Omnicom Group news, SVP Andrew Castellaneta sold 2,000 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Several analysts have recently commented on OMC shares. Barclays set a $84.00 price target on shares of Omnicom Group and gave the company a “hold” rating in a research note on Friday, September 27th. ValuEngine cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Citigroup decreased their price target on shares of Omnicom Group from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Wells Fargo & Co started coverage on shares of Omnicom Group in a research note on Monday, September 23rd. They set a “market perform” rating and a $81.00 price target on the stock. Finally, BMO Capital Markets cut shares of Omnicom Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $88.00 to $86.00 in a research note on Sunday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and a consensus target price of $80.71.
OMC stock traded up $2.02 during midday trading on Friday, reaching $75.19. The company’s stock had a trading volume of 82,587 shares, compared to its average volume of 1,733,413. Omnicom Group Inc. has a 52 week low of $67.59 and a 52 week high of $85.05. The stock has a market cap of $16.31 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 2.45 and a beta of 0.71. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 1.81. The business’s 50-day simple moving average is $77.44 and its 200-day simple moving average is $78.81.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Wednesday, July 17th. The business services provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.07. Omnicom Group had a net margin of 8.89% and a return on equity of 43.86%. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts forecast that Omnicom Group Inc. will post 6.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Friday, September 20th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.60 dividend on an annualized basis and a yield of 3.46%. Omnicom Group’s payout ratio is presently 45.22%.
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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