Russell Investments Group Ltd. increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 65.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,557 shares of the business services provider’s stock after buying an additional 201,225 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Omnicom Group worth $42,334,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Cribstone Capital Management LLC acquired a new position in shares of Omnicom Group during the first quarter worth about $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 worth $170,000 after buying an additional 1,812 shares during the period. 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 worth $189,000 after buying an additional 700 shares during 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 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 about $202,000. 98.02% of the stock is owned by institutional investors.
Shares of Omnicom Group Inc. (OMC) traded down 1.15% during mid-day trading on Friday, hitting $76.76. The company had a trading volume of 1,402,601 shares. Omnicom Group Inc. has a one year low of $76.74 and a one year high of $89.66. The company has a market capitalization of $17.71 billion, a P/E ratio of 15.50 and a beta of 1.25. The firm’s 50-day moving average price is $80.03 and its 200 day moving average price is $83.10.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 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 business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the business earned $1.36 EPS. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.87%. Omnicom Group’s dividend payout ratio (DPR) is currently 44.44%.
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A number of equities analysts have issued reports on the company. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $83.00 in a research note on Tuesday, June 6th. 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 Tuesday, June 20th. BidaskClub downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a research report on Tuesday, July 18th. Two equities 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 company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $86.00.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the stock in a transaction that occurred on 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 owns 105,250 shares in the company, valued at approximately $8,936,777.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now owns 7,724 shares in the company, valued at approximately $634,835.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,183 shares of company stock worth $2,046,845. 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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