World Asset Management Inc decreased its position in Omnicom Group Inc. (NYSE:OMC) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,605 shares of the business services provider’s stock after selling 3,173 shares during the period. World Asset Management Inc’s holdings in Omnicom Group were worth $1,957,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of OMC. Cribstone Capital Management LLC acquired a new stake in shares of Omnicom Group during the first quarter worth about $164,000. Invictus RG raised its stake in shares of 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 period. 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 worth $189,000 after buying an additional 700 shares during the period. 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 worth $194,000 after buying an additional 510 shares during the period. Finally, Huntington Steele LLC acquired a new stake in shares of Omnicom Group during the first quarter worth about $202,000. Institutional investors own 98.02% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at 76.76 on Friday. The firm has a market capitalization of $17.71 billion, a P/E ratio of 15.50 and a beta of 1.25. The company has a 50-day moving average price of $80.03 and a 200-day moving average price of $83.10. Omnicom Group Inc. has a one year low of $76.74 and a one year high of $89.66.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping the 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 earned $1.36 EPS. Omnicom Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 annualized dividend and a yield of 2.87%. Omnicom Group’s dividend payout ratio is presently 44.44%.
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A number of brokerages have issued reports on OMC. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, May 20th. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a research note on Tuesday, July 18th. 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 has an average rating of “Hold” and a consensus target price of $86.00.
In other Omnicom Group 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 directly owns 7,724 shares in the company, valued at approximately $634,835.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction that occurred 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 sale, the chairman now owns 105,250 shares in the company, valued at $8,936,777.50. 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 over the last 90 days. 1.10% of the stock is owned by company 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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