Daiwa Securities Group Inc. decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,350 shares of the business services provider’s stock after selling 1,600 shares during the period. Daiwa Securities Group Inc.’s holdings in Omnicom Group were worth $1,604,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in OMC. Cribstone Capital Management LLC acquired a new stake in Omnicom Group during the first quarter valued at about $164,000. Invictus RG boosted its stake in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after buying an additional 1,812 shares in the last quarter. FNY Partners Fund LP boosted its stake in 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 valued at $189,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC boosted its stake in 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 valued at $194,000 after buying an additional 510 shares in the last quarter. Finally, Huntington Steele LLC acquired a new stake in Omnicom Group during the first quarter valued at about $202,000. Hedge funds and other institutional investors own 98.68% of the company’s stock.
Omnicom Group Inc. (NYSE OMC) opened at 78.82 on Thursday. The stock has a market cap of $18.19 billion, a PE ratio of 15.92 and a beta of 1.25. Omnicom Group Inc. has a 12-month low of $77.50 and a 12-month high of $89.66. The firm’s 50-day moving average price is $81.02 and its 200 day moving average price is $83.50.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.02. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. Analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be given a $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.79%. Omnicom Group’s dividend payout ratio (DPR) is presently 44.44%.
Several analysts recently issued reports on the company. Zacks Investment Research cut Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Macquarie cut Omnicom Group from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $83.00 in a research report on Tuesday, June 6th. Barclays PLC reiterated a “hold” rating and set a $86.00 target price on shares of Omnicom Group in a research report on Thursday, April 20th. Wedbush cut their target price on Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Finally, Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The disclosure for this sale can be found here. Insiders sold 24,183 shares of company stock valued at $2,046,845 over the last 90 days. Company insiders own 1.10% of the company’s stock.
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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