Blair William & Co. IL reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,239 shares of the business services provider’s stock after selling 4,558 shares during the period. Blair William & Co. IL owned 0.12% of Omnicom Group worth $22,320,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of OMC. Dupont Capital Management Corp purchased a new position in shares of Omnicom Group during the second quarter worth $104,000. Invictus RG boosted 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 worth $170,000 after buying an additional 1,812 shares during the last quarter. FNY Partners Fund LP boosted 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 worth $189,000 after buying an additional 700 shares during the last quarter. Global X Management Co. LLC boosted 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 worth $194,000 after buying an additional 510 shares during the last quarter. Finally, Huntington Steele LLC purchased a new position in shares of Omnicom Group during the first quarter worth $202,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE OMC) opened at 76.76 on Friday. The stock has a market capitalization of $17.71 billion, a price-to-earnings ratio of 15.50 and a beta of 1.25. The stock’s 50 day moving average price is $80.03 and its 200-day moving average price is $83.10. Omnicom Group Inc. has a 12 month low of $76.74 and a 12 month high of $89.66.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
OMC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Friday, July 14th. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a “buy” rating in a research report on Saturday, May 20th. Wells Fargo & Company reissued a “hold” rating and issued a $84.00 price objective on shares of Omnicom Group in a research report on Tuesday, July 18th. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research report on Friday, July 14th. Finally, Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $90.00 to $83.00 in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $86.00.
In other news, Chairman Bruce Crawford sold 22,800 shares of the company’s 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 completion of the transaction, the chairman now owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the transaction, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. Insiders have sold 24,183 shares of company stock valued at $2,046,845 in the last ninety days. 1.10% of the stock is owned by company insiders.
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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