Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 678,481 shares of the business services provider’s stock after buying an additional 10,343 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of Omnicom Group worth $56,246,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Omnicom Group by 5.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,206 shares of the business services provider’s stock valued at $1,655,000 after buying an additional 1,025 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Omnicom Group by 1.4% in the first quarter. Wetherby Asset Management Inc. now owns 9,478 shares of the business services provider’s stock valued at $818,000 after buying an additional 131 shares during the last quarter. Palisade Asset Management LLC increased its position in shares of Omnicom Group by 0.6% in the first quarter. Palisade Asset Management LLC now owns 101,632 shares of the business services provider’s stock valued at $8,762,000 after buying an additional 629 shares during the last quarter. Conning Inc. increased its position in shares of Omnicom Group by 11.7% in the first quarter. Conning Inc. now owns 296,931 shares of the business services provider’s stock valued at $25,598,000 after buying an additional 31,080 shares during the last quarter. Finally, Security National Trust Co. increased its position in shares of Omnicom Group by 0.6% in the first quarter. Security National Trust Co. now owns 24,538 shares of the business services provider’s stock valued at $2,115,000 after buying an additional 138 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of Omnicom Group Inc. (NYSE OMC) opened at 73.01 on Friday. Omnicom Group Inc. has a 52-week low of $72.64 and a 52-week high of $89.66. The stock has a 50 day moving average of $79.24 and a 200 day moving average of $82.81. The firm has a market cap of $16.85 billion, a price-to-earnings ratio of 14.74 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. Equities analysts predict that Omnicom Group Inc. will post $5.08 EPS 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 issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s payout ratio is presently 44.44%.
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A number of equities analysts have weighed in on OMC shares. Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, May 20th. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The stock currently 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 stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the sale, the chairman now owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda Johnson Rice sold 483 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were 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 of the company’s stock, valued at approximately $634,835.56. The disclosure for this sale can be found here. In the last three months, insiders sold 24,183 shares of company stock valued at $2,046,845. 1.10% of the stock is currently owned by 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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