Handelsbanken Fonder AB reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,555 shares of the business services provider’s stock after selling 6,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Omnicom Group were worth $6,814,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in OMC. Activest Wealth Management raised its holdings in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 296 shares during the period. Bayforest Capital Ltd bought a new position in shares of Omnicom Group in the fourth quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in Omnicom Group during the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID raised its position in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. Finally, EFG International AG acquired a new stake in shares of Omnicom Group during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Wells Fargo & Company upped their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Morgan Stanley upped their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Citigroup lowered 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. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $99.00.
Omnicom Group Price Performance
OMC opened at $87.45 on Friday. The firm has a 50-day moving average of $79.20 and a 200 day moving average of $77.24. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $88.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The firm has a market cap of $23.99 billion, a P/E ratio of 75.39, a PEG ratio of 0.59 and a beta of 0.64.
Omnicom Group (NYSE:OMC – Get Free Report) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The firm’s revenue was up 63.4% on a year-over-year basis. On average, research analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.
Omnicom Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a yield of 3.7%. Omnicom Group’s dividend payout ratio is currently 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.
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