Sanders Capital LLC lowered its position in Omnicom Group Inc. (NYSE:OMC) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,573,442 shares of the business services provider’s stock after selling 6,800 shares during the period. Omnicom Group makes up approximately 1.3% of Sanders Capital LLC’s investment portfolio, making the stock its 23rd largest position. Sanders Capital LLC owned about 1.11% of Omnicom Group worth $213,338,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after buying an additional 16,507,161 shares during the period. Vanguard Group Inc. boosted its stake in shares of Omnicom Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 15,866,652 shares of the business services provider’s stock worth $1,367,864,000 after buying an additional 116,893 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Omnicom Group by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 13,088,271 shares of the business services provider’s stock worth $1,128,340,000 after buying an additional 245,542 shares during the period. State Street Corp boosted its stake in shares of Omnicom Group by 1.2% in the first quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock worth $850,497,000 after buying an additional 121,470 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Omnicom Group by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 5,933,025 shares of the business services provider’s stock worth $511,487,000 after buying an additional 488,684 shares during the period. Institutional investors own 98.68% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE OMC) opened at 77.75 on Friday. The firm has a market cap of $17.94 billion, a PE ratio of 15.70 and a beta of 1.25. Omnicom Group Inc. has a 12-month low of $77.50 and a 12-month high of $89.66. The firm’s 50-day moving average is $80.76 and its 200-day moving average is $83.41.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the business posted $1.36 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s payout ratio is presently 44.44%.
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A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Wells Fargo & Company restated a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 target price on shares of Omnicom Group in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the sale, the director now owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following 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. Insiders have sold a total of 24,183 shares of company stock worth $2,046,845 in the last three months. 1.10% of the stock is owned by insiders.
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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