Royal London Asset Management Ltd. Acquires 7,340 Shares of Omnicom Group Inc. $OMC

Royal London Asset Management Ltd. grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 6.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 113,397 shares of the business services provider’s stock after acquiring an additional 7,340 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Omnicom Group were worth $8,259,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. purchased a new stake in Omnicom Group during the second quarter valued at about $25,000. Elyxium Wealth LLC purchased a new position in shares of Omnicom Group in the fourth quarter worth about $26,000. Legacy Wealth Managment LLC ID lifted its stake in shares of Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. EFG International AG bought a new stake in shares of Omnicom Group in the 4th quarter valued at about $28,000. Finally, Caitlin John LLC boosted its holdings 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 period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,385 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective for the company. Zacks Research lowered Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Finally, Citigroup decreased their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $99.00.

Omnicom Group Stock Performance

Omnicom Group stock opened at $87.67 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average of $82.01 and a 200-day moving average of $78.34. The firm has a market cap of $24.05 billion, a P/E ratio of 75.58, a P/E/G ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 63.4% on a year-over-year basis. Sell-side analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.