OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 159.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,840 shares of the business services provider’s stock after acquiring an additional 7,900 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Omnicom Group were worth $979,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of OMC. Tower Research Capital LLC TRC raised its position in shares of Omnicom Group by 78.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,773 shares of the business services provider’s stock valued at $211,000 after buying an additional 1,220 shares in the last quarter. Cynosure Advisors LLC raised its position in shares of Omnicom Group by 14.6% in the second quarter. Cynosure Advisors LLC now owns 22,440 shares of the business services provider’s stock valued at $1,711,000 after buying an additional 2,860 shares in the last quarter. Impax Asset Management LLC acquired a new stake in shares of Omnicom Group in the second quarter valued at approximately $212,000. Bank of America Corp DE raised its position in shares of Omnicom Group by 20.4% in the second quarter. Bank of America Corp DE now owns 1,359,190 shares of the business services provider’s stock valued at $103,665,000 after buying an additional 230,428 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Omnicom Group by 26.3% in the second quarter. Morgan Stanley now owns 454,263 shares of the business services provider’s stock valued at $34,646,000 after buying an additional 94,630 shares in the last quarter.
OMC has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on shares of Omnicom Group from $76.00 to $73.00 and set an “underweight” rating for the company in a research report on Wednesday, May 23rd. Wells Fargo & Co restated a “market perform” rating and set a $75.00 price objective (down from $80.00) on shares of Omnicom Group in a research report on Tuesday, July 17th. ValuEngine upgraded shares of Omnicom Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 19th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.08.
Shares of OMC opened at $68.98 on Friday. Omnicom Group Inc. has a one year low of $65.32 and a one year high of $83.34. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.89 and a quick ratio of 0.78.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 17th. The business services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.88 billion. Omnicom Group had a net margin of 7.45% and a return on equity of 40.82%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 earnings per share. sell-side analysts anticipate that Omnicom Group Inc. will post 5.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 21st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $2.40 annualized dividend and a dividend yield of 3.48%. Omnicom Group’s dividend payout ratio (DPR) is presently 47.06%.
In other news, Director Linda Johnson Rice sold 475 shares of the company’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $70.02, for a total transaction of $33,259.50. Following the completion of the transaction, the director now directly owns 7,966 shares in the company, valued at $557,779.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,075 shares of company stock valued at $74,289 over the last quarter. Company insiders own 1.20% of the company’s stock.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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