Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,360 shares of the business services provider’s stock after purchasing an additional 203 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Omnicom Group were worth $1,121,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc raised its stake in shares of Omnicom Group by 24.9% during the 3rd quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock valued at $1,443,122,000 after buying an additional 4,228,195 shares during the last quarter. BlackRock Inc. raised its stake in shares of Omnicom Group by 5.3% during the 4th quarter. BlackRock Inc. now owns 15,884,989 shares of the business services provider’s stock valued at $1,163,417,000 after buying an additional 796,300 shares during the last quarter. American International Group Inc. raised its stake in shares of Omnicom Group by 1,169.5% during the 4th quarter. American International Group Inc. now owns 5,683,553 shares of the business services provider’s stock valued at $416,263,000 after buying an additional 5,235,862 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Omnicom Group by 13.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,158,808 shares of the business services provider’s stock valued at $303,552,000 after buying an additional 494,508 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Omnicom Group by 6,842.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,974,955 shares of the business services provider’s stock valued at $54,000 after buying an additional 3,917,700 shares during the last quarter.
In other Omnicom Group news, SVP Andrew Castellaneta sold 4,400 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total value of $353,056.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard S. Coleman, Jr. sold 2,556 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $75.25, for a total transaction of $192,339.00. The disclosure for this sale can be found here. Insiders sold 12,369 shares of company stock valued at $1,000,965 in the last 90 days. 1.10% of the stock is currently owned by insiders.
NYSE OMC traded down $0.16 during trading hours on Wednesday, hitting $79.92. The company had a trading volume of 3,049 shares, compared to its average volume of 1,951,287. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.79. Omnicom Group Inc. has a 1-year low of $65.85 and a 1-year high of $84.35. The company has a market capitalization of $17.51 billion, a PE ratio of 13.90, a P/E/G ratio of 2.84 and a beta of 0.71.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.09. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Omnicom Group’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts expect that Omnicom Group Inc. will post 5.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.60 annualized dividend and a yield of 3.25%. Omnicom Group’s dividend payout ratio is presently 45.22%.
A number of research firms have recently commented on OMC. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Friday, January 25th. Barclays upgraded Omnicom Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $76.00 to $84.00 in a research report on Wednesday, April 17th. Citigroup raised their target price on Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. BMO Capital Markets raised their target price on Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Finally, Macquarie set a $76.00 target price on Omnicom Group and gave the company a “hold” rating in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $76.90.
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About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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