920,054 Shares in Omnicom Group Inc. $OMC Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new stake in Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 920,054 shares of the business services provider’s stock, valued at approximately $66,995,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Omnicom Group during the second quarter worth about $2,082,476,000. Vanguard Group Inc. raised its position in shares of Omnicom Group by 64.2% in the fourth quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after buying an additional 15,220,444 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Omnicom Group during the second quarter valued at approximately $914,156,000. State Street Corp lifted its stake in shares of Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after buying an additional 6,813,441 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Omnicom Group by 522.9% during the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after buying an additional 4,364,797 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Citigroup decreased their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Zacks Research lowered Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Four 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $99.00.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the company’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 value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $87.98 on Thursday. The stock has a market capitalization of $24.14 billion, a P/E ratio of 75.85, a PEG ratio of 0.59 and a beta of 0.64. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57. 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 business’s fifty day moving average price is $81.04 and its 200 day moving average price is $77.99.

Omnicom Group (NYSE:OMC) last issued its 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 return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, research analysts anticipate that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 18th. Omnicom Group’s payout ratio 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.