Boston Partners lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,332,520 shares of the business services provider’s stock after selling 170,961 shares during the period. Boston Partners owned 1.01% of Omnicom Group worth $193,366,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cribstone Capital Management LLC bought a new position in shares of Omnicom Group during the first quarter valued at $164,000. Invictus RG raised its position in shares of 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 raised its position in shares of 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 raised its position in shares of 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 bought a new position in shares of Omnicom Group during the first quarter valued at $202,000. 98.68% of the stock is owned by institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 77.75 on Friday. The company has a market capitalization of $17.94 billion, a P/E ratio of 15.70 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 company has a 50-day moving average of $80.76 and a 200 day moving average of $83.41.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. Analysts forecast that Omnicom Group Inc. will post $5.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is presently 44.44%.
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Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $90.00 to $83.00 in a report on Tuesday, June 6th. Barclays PLC reissued a “hold” rating and set a $86.00 price objective on shares of Omnicom Group in a report on Thursday, April 20th. Wedbush decreased their price target on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Finally, Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the company a “buy” rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Omnicom Group has an average rating of “Hold” and an average price target of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the completion of the sale, the chairman now directly owns 105,250 shares in the company, valued at approximately $8,936,777.50. The disclosure for this sale can be found here. Insiders sold a total of 24,183 shares of company stock worth $2,046,845 in the last three months. Insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
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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