CNA Financial Corp increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 18.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,752 shares of the business services provider’s stock after buying an additional 5,579 shares during the period. CNA Financial Corp’s holdings in Omnicom Group were worth $2,964,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Dupont Capital Management Corp purchased a new stake in Omnicom Group during the second quarter valued at about $104,000. Parallel Advisors LLC raised its position 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 in the last quarter. Invictus RG raised its position 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 in the last quarter. FNY Partners Fund LP raised its position 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 in the last quarter. Finally, Global X Management Co. LLC raised its position 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 in the last quarter. Institutional investors own 98.71% of the company’s stock.
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A number of equities research analysts have weighed in on OMC shares. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Wells Fargo & Company restated a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a research report on Tuesday, July 18th. Credit Suisse Group restated a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Citigroup Inc. upgraded Omnicom Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. Omnicom Group presently has an average rating of “Hold” and a consensus price target of $86.00.
In other news, 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 transaction of $39,697.77. Following the transaction, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the 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 transaction, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Omnicom Group Inc. (OMC) traded up 0.5356% during mid-day trading on Monday, reaching $73.2201. The company’s stock had a trading volume of 325,977 shares. The stock has a market cap of $16.90 billion, a P/E ratio of 14.7860 and a beta of 1.27. The firm’s 50 day moving average is $76.54 and its 200-day moving average is $81.84. Omnicom Group Inc. has a one year low of $71.63 and a one year 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 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 firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the firm earned $1.36 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Equities analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.02%. Omnicom Group’s dividend payout ratio is presently 44.44%.
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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