Eqis Capital Management Inc. raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 19.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,090 shares of the business services provider’s stock after buying an additional 2,332 shares during the period. Eqis Capital Management Inc.’s holdings in Omnicom Group were worth $1,168,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Cribstone Capital Management LLC acquired a new stake in Omnicom Group during the first quarter worth about $164,000. Invictus RG raised its stake in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after buying an additional 1,812 shares during the last quarter. FNY Partners Fund LP raised its stake in shares of Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after buying an additional 510 shares in the last quarter. Finally, Huntington Steele LLC purchased a new stake in shares of Omnicom Group during the first quarter valued at about $202,000. Institutional investors own 98.68% of the company’s stock.
Shares of Omnicom Group Inc. (OMC) traded down 0.23% on Friday, reaching $77.75. 1,020,568 shares of the company were exchanged. The firm has a market capitalization of $17.94 billion, a PE ratio of 15.70 and a beta of 1.25. The company’s 50 day moving average is $80.89 and its 200 day moving average is $83.46. Omnicom Group Inc. has a 12-month low of $77.50 and a 12-month high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio is 44.44%.
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OMC has been the subject of several recent research reports. Evercore ISI assumed coverage on Omnicom Group in a report on Monday, April 17th. They set an “in-line” rating and a $91.00 price objective for the company. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating and set a $79.00 target price (down from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Wells Fargo & Company restated a “hold” rating and set a $84.00 target price on shares of Omnicom Group in a report on Tuesday, July 18th. Zacks Investment Research downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $86.00 price target on shares of Omnicom Group in a research report on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares of the company’s stock, valued at $634,835.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the sale, the treasurer now directly owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,183 shares of company stock worth $2,046,845. Insiders own 1.10% of the company’s stock.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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