APG Asset Management N.V. maintained its stake in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,138 shares of the business services provider’s stock at the end of the second quarter. APG Asset Management N.V. owned approximately 0.06% of Omnicom Group worth $11,866,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of OMC. Stifel Financial Corp raised its stake in shares of Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock worth $3,613,000 after buying an additional 2,291 shares during the period. Morgan Stanley raised its stake in shares of Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock worth $141,325,000 after buying an additional 1,194,001 shares during the period. Beutel Goodman & Co Ltd. acquired a new stake in shares of Omnicom Group during the second quarter worth approximately $153,358,000. Geode Capital Management LLC raised its stake in shares of Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock worth $211,836,000 after buying an additional 175,835 shares during the period. Finally, Kentucky Retirement Systems acquired a new stake in shares of Omnicom Group during the fourth quarter worth approximately $1,457,000. Institutional investors and hedge funds own 98.02% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 1.15% during trading on Friday, hitting $76.76. The stock had a trading volume of 1,402,601 shares. The firm has a market capitalization of $17.71 billion, a P/E ratio of 15.50 and a beta of 1.25. The stock’s 50-day moving average price is $80.03 and its 200 day moving average price is $83.10. Omnicom Group Inc. has a 1-year low of $76.74 and a 1-year high of $89.66.
Omnicom Group (NYSE:OMC) last announced its earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Zacks’ 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 analysts’ expectations of $3.74 billion. During the same period last year, the firm earned $1.36 EPS. Omnicom Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts anticipate that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.87%. Omnicom Group’s dividend payout ratio is currently 44.44%.
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A number of analysts recently commented on OMC shares. Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a report on Tuesday, July 18th. Credit Suisse Group reissued a “neutral” rating and issued a $79.00 target price (down from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub downgraded Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Omnicom Group presently has an average rating of “Hold” and an average target price of $86.00.
In related news, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the transaction, the chairman now directly owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction 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 completion of the transaction, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,183 shares of company stock worth $2,046,845. 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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