OppenheimerFunds Inc. cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 95.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,356 shares of the business services provider’s stock after selling 508,956 shares during the period. OppenheimerFunds Inc.’s holdings in Omnicom Group were worth $1,927,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in shares of Omnicom Group during the fourth quarter worth $306,000. A.R.T. Advisors LLC purchased a new stake in shares of Omnicom Group during the fourth quarter worth $1,285,000. GSA Capital Partners LLP purchased a new stake in shares of Omnicom Group during the fourth quarter worth $395,000. Loomis Sayles & Co. L P boosted its stake in shares of Omnicom Group by 3.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,171 shares of the business services provider’s stock worth $1,206,000 after buying an additional 504 shares in the last quarter. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of Omnicom Group during the fourth quarter worth $443,000. Institutional investors own 97.50% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at 83.05 on Wednesday. Omnicom Group Inc. has a 12-month low of $75.61 and a 12-month high of $89.66. The stock has a 50 day moving average price of $82.99 and a 200-day moving average price of $84.70. The firm has a market cap of $19.33 billion, a price-to-earnings ratio of 16.93 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 18th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. Omnicom Group had a return on equity of 42.34% and a net margin of 7.54%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Equities analysts forecast that Omnicom Group Inc. will post $5.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Wednesday, June 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, June 12th. Omnicom Group’s dividend payout ratio (DPR) is 44.81%.
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OMC has been the subject of a number of research reports. Bank of America Corporation initiated coverage on Omnicom Group in a research note on Thursday, March 2nd. They issued a “neutral” rating and a $91.00 price objective for the company. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 7th. Royal Bank Of Canada upgraded Omnicom Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $87.00 to $101.00 in a research note on Wednesday, March 8th. Evercore ISI initiated coverage on Omnicom Group in a research note on Monday, April 17th. They issued an “in-line” rating and a $91.00 price objective for the company. They noted that the move was a valuation call. Finally, Wedbush reduced their price objective on Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $86.23.
In related news, Chairman Bruce Crawford sold 22,800 shares of the firm’s 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 sale, the chairman now owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leonard S. Coleman, Jr. sold 2,038 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $83.93, for a total value of $171,049.34. Following the completion of the sale, the director now directly owns 24,853 shares in the company, valued at approximately $2,085,912.29. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
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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