Tredje AP fonden trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 31.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,438 shares of the business services provider’s stock after selling 14,000 shares during the period. Tredje AP fonden’s holdings in Omnicom Group were worth $2,540,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Cleararc Capital Inc. raised its stake in shares of Omnicom Group by 0.3% in the 1st quarter. Cleararc Capital Inc. now owns 5,744 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 19 shares in the last quarter. RMB Capital Management LLC raised its stake in shares of Omnicom Group by 0.9% in the 1st quarter. RMB Capital Management LLC now owns 2,427 shares of the business services provider’s stock valued at $209,000 after acquiring an additional 21 shares in the last quarter. MUFG Americas Holdings Corp raised its stake in shares of Omnicom Group by 0.3% in the 1st quarter. MUFG Americas Holdings Corp now owns 8,326 shares of the business services provider’s stock valued at $718,000 after acquiring an additional 26 shares in the last quarter. Sawtooth Solutions LLC raised its stake in shares of Omnicom Group by 0.4% in the 1st quarter. Sawtooth Solutions LLC now owns 8,961 shares of the business services provider’s stock valued at $773,000 after acquiring an additional 33 shares in the last quarter. Finally, Pennsylvania Trust Co raised its stake in shares of Omnicom Group by 1.1% in the 2nd quarter. Pennsylvania Trust Co now owns 4,596 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 50 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the company’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 value of $39,697.77. Following the sale, the director now owns 7,724 shares in the company, valued at $634,835.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’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 sale, the treasurer now owns 44,161 shares in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 72.83 on Friday. The firm 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 price of $76.71 and a 200-day moving average price of $81.89. Omnicom Group Inc. has a 12-month low of $71.63 and a 12-month high of $89.66.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.02. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’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 company earned $1.36 earnings per share. Equities research analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current year.
The firm also recently disclosed 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 of this dividend is Thursday, September 21st. This represents a $2.20 annualized dividend and a yield of 3.02%. Omnicom Group’s dividend payout ratio is 44.44%.
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A number of research analysts recently 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 research note on Friday, July 14th. BidaskClub downgraded Omnicom Group from a “sell” rating to a “strong sell” rating in a research note 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 research note on Saturday, July 22nd. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $79.00 price objective (down from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $86.00.
Omnicom Group Company 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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