The Manufacturers Life Insurance Company Buys Shares of 280,459 Omnicom Group Inc. $OMC

The Manufacturers Life Insurance Company bought a new stake in Omnicom Group Inc. (NYSE:OMCFree Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 280,459 shares of the business services provider’s stock, valued at approximately $20,426,000. The Manufacturers Life Insurance Company owned approximately 0.10% of Omnicom Group at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in Omnicom Group in the 2nd quarter valued at $3,194,000. Cullen Capital Management LLC purchased a new position in Omnicom Group in the 2nd quarter valued at $85,698,000. TCM Advisors LLC acquired a new stake in Omnicom Group during the 2nd quarter worth $868,000. Cibc World Market Inc. acquired a new stake in Omnicom Group during the 2nd quarter worth $1,932,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Omnicom Group during the second quarter worth $1,250,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Morgan Stanley upped their price target on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective on the stock. Citigroup reduced their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Wells Fargo & Company boosted their price objective on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $99.00.

Check Out Our Latest Stock Report on Omnicom Group

Omnicom Group Price Performance

Shares of OMC stock opened at $87.78 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The company has a market capitalization of $24.08 billion, a PE ratio of 75.68, a price-to-earnings-growth ratio of 0.58 and a beta of 0.64. The firm’s 50-day moving average is $81.37 and its two-hundred day moving average is $78.12. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57.

Omnicom Group (NYSE:OMCGet Free Report) last announced 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 analyst estimates of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm’s quarterly revenue was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 EPS. Analysts predict that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Omnicom Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMCFree Report).

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

Receive News & Ratings for Omnicom Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group and related companies with MarketBeat.com's FREE daily email newsletter.