Omnicom Group Inc. $OMC Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP decreased its position in shares of Omnicom Group Inc. (NYSE:OMCFree Report) by 11.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 249,035 shares of the business services provider’s stock after selling 33,520 shares during the period. Engineers Gate Manager LP’s holdings in Omnicom Group were worth $18,137,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Keating Financial Advisory Services Inc. acquired a new stake in shares of Omnicom Group during the second quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in Omnicom Group in the fourth quarter valued at $26,000. EFG International AG acquired a new stake in Omnicom Group in the fourth quarter valued at $28,000. Caitlin John LLC boosted its stake in Omnicom Group by 4,675.0% during the 4th quarter. Caitlin John LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 374 shares during the last quarter. Finally, Wealth Watch Advisors INC bought a new position in Omnicom Group during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of Omnicom Group stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director directly owned 11,719 shares in the company, valued at $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Citigroup reduced their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their price objective on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and an average target price of $99.00.

Read Our Latest Stock Report on Omnicom Group

Omnicom Group Stock Down 3.6%

OMC stock opened at $78.22 on Thursday. The firm has a market cap of $21.46 billion, a price-to-earnings ratio of 67.44, a PEG ratio of 0.69 and a beta of 0.65. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57. The firm has a fifty day moving average price of $83.21 and a two-hundred day moving average price of $78.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

Omnicom Group (NYSE:OMCGet Free Report) last posted its quarterly 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). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was up 63.4% on a year-over-year basis. Research analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

Omnicom Group Company Profile

(Free Report)

Omnicom Group Inc (NYSE: OMC) is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom’s agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.

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

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