Pitcairn Co. reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 15.8% during the second quarter, Holdings Channel reports. The firm owned 3,299 shares of the business services provider’s stock after selling 617 shares during the period. Pitcairn Co.’s holdings in Omnicom Group were worth $274,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of OMC. Stifel Financial Corp raised its stake in shares of Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock worth $3,613,000 after buying an additional 2,291 shares during the period. Morgan Stanley raised its stake in Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after buying an additional 1,194,001 shares during the period. Beutel Goodman & Co Ltd. acquired a new stake in Omnicom Group during the second quarter valued at $153,358,000. Geode Capital Management LLC raised its stake in Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock valued at $211,836,000 after buying an additional 175,835 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Omnicom Group during the first quarter valued at $486,000. Institutional investors and hedge funds own 98.02% of the company’s stock.
Omnicom Group Inc. (OMC) opened at 78.66 on Thursday. The company has a market cap of $18.15 billion, a PE ratio of 15.88 and a beta of 1.25. The firm has a 50-day moving average of $80.39 and a 200 day moving average of $83.21. Omnicom Group Inc. has a 52-week low of $77.50 and a 52-week high of $89.66.
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 consensus estimate of $1.38 by $0.02. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the firm posted $1.36 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
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OMC has been the topic of several research reports. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, May 20th. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Friday, July 14th. Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Barclays PLC reiterated a “hold” rating and set a $86.00 price objective on shares of Omnicom Group in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Omnicom Group has an average rating of “Hold” and a consensus price target of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the transaction, the director now directly owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the transaction, the chairman now directly owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The disclosure for this sale can be found here. Insiders have sold a total of 24,183 shares of company stock valued at $2,046,845 over the last three months. 1.10% of the stock is currently owned by insiders.
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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