Schroder Investment Management Group cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 22.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,647,532 shares of the business services provider’s stock after selling 467,227 shares during the quarter. Schroder Investment Management Group owned 0.71% of Omnicom Group worth $137,289,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in OMC. BlackRock Inc. boosted its holdings in Omnicom Group by 3,091.8% during the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after purchasing an additional 16,507,161 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in Omnicom Group during the second quarter valued at approximately $153,358,000. Morgan Stanley boosted its holdings in Omnicom Group by 268.1% during the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after purchasing an additional 1,194,001 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Omnicom Group by 21.3% during the second quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock valued at $495,658,000 after purchasing an additional 1,049,746 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in Omnicom Group by 769.0% during the first quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock valued at $60,415,000 after purchasing an additional 628,969 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on OMC shares. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Friday, July 14th. BidaskClub downgraded Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a “buy” rating in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a report on Wednesday. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. Omnicom Group currently has a consensus rating of “Hold” and an average target price of $85.92.
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Omnicom Group Inc. (NYSE OMC) traded up 0.90% on Wednesday, reaching $73.60. 1,151,357 shares of the company traded hands. The stock has a 50-day moving average of $76.18 and a 200 day moving average of $81.66. Omnicom Group Inc. has a 52-week low of $71.63 and a 52-week high of $89.66. The company has a market capitalization of $16.98 billion, a PE ratio of 14.86 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the company earned $1.36 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 3.02%. Omnicom Group’s dividend payout ratio is presently 44.44%.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the transaction, the treasurer now owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Linda Johnson Rice sold 483 shares of the business’s 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 completion of the transaction, 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. 1.10% of the stock is owned by insiders.
Omnicom Group 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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