Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,291 shares of the business services provider’s stock after selling 106 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Omnicom Group were worth $1,433,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dupont Capital Management Corp acquired a new position in Omnicom Group during the second quarter valued at approximately $104,000. Parallel Advisors LLC grew its holdings in Omnicom Group by 8.7% during the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 104 shares during the period. Invictus RG grew its holdings in Omnicom Group by 1,098.2% during the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 1,812 shares during the period. FNY Partners Fund LP grew its holdings in Omnicom Group by 46.7% during the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 700 shares during the period. Finally, Global X Management Co. LLC grew its holdings in Omnicom Group by 29.4% during the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after purchasing an additional 510 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.
A number of research analysts recently issued reports on the stock. Macquarie cut shares of Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $83.00 in a report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a report on Saturday, May 20th. Wells Fargo & Company restated a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a report on Tuesday, July 18th. Finally, Jefferies Group LLC restated a “hold” rating and set a $82.00 price objective on shares of Omnicom Group in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $86.00.
In other news, Treasurer Dennis E. Hewitt sold 900 shares of the firm’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 transaction of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Johnson Rice sold 483 shares of the firm’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 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. Company insiders own 1.10% of the company’s stock.
Omnicom Group Inc. (OMC) opened at 72.83 on Friday. Omnicom Group Inc. has a 52 week low of $71.63 and a 52 week high of $89.66. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 14.71 and a beta of 1.27. The firm has a 50-day moving average of $76.71 and a 200-day moving average of $81.89.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping 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 net margin of 7.61% and a return on equity of 42.54%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 EPS. Equities analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current 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 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is 44.44%.
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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