iSAM Funds UK Ltd bought a new stake in Omnicom Group Inc. (NYSE:OMC – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 8,700 shares of the business services provider’s stock, valued at approximately $634,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. grew its holdings in Omnicom Group by 55.4% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after purchasing an additional 35,247 shares during the last quarter. Generali Asset Management SPA SGR lifted its holdings in shares of Omnicom Group by 346.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 20,580 shares of the business services provider’s stock valued at $1,662,000 after purchasing an additional 15,966 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Omnicom Group by 70.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 674,065 shares of the business services provider’s stock valued at $54,815,000 after purchasing an additional 277,665 shares during the last quarter. Orca Investment Management LLC acquired a new stake in shares of Omnicom Group in the 2nd quarter worth $2,023,000. Finally, Swiss Life Asset Management Ltd boosted its position in shares of Omnicom Group by 901.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 481,765 shares of the business services provider’s stock worth $38,903,000 after purchasing an additional 433,654 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on OMC. The Goldman Sachs Group began coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Citigroup cut their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.00.
Omnicom Group Stock Performance
Shares of OMC stock opened at $81.76 on Thursday. The stock has a market cap of $22.43 billion, a PE ratio of 70.48, a price-to-earnings-growth ratio of 0.74 and a beta of 0.65. The business has a 50-day simple moving average of $82.42 and a 200-day simple moving average of $78.56. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57.
Omnicom Group (NYSE:OMC – Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). The company 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 revenue was up 63.4% on a year-over-year basis. During the same period last year, the business earned $2.05 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.
Omnicom Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.
Insider Activity at Omnicom Group
In other news, Director Linda Johnson Rice sold 1,385 shares of Omnicom Group stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.
Omnicom Group Company 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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