CIBC World Markets Inc. grew its position in Omnicom Group Inc. (NYSE:OMC) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,971 shares of the business services provider’s stock after purchasing an additional 991 shares during the quarter. CIBC World Markets Inc.’s holdings in Omnicom Group were worth $2,816,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Jensen Investment Management Inc. boosted its stake in Omnicom Group by 11.3% during the second quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock worth $290,047,000 after acquiring an additional 354,285 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new position in Omnicom Group during the second quarter worth $153,358,000. Stifel Financial Corp raised its holdings in Omnicom Group by 5.8% during the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock worth $3,613,000 after buying an additional 2,291 shares during the last quarter. Morgan Stanley raised 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 worth $141,325,000 after buying an additional 1,194,001 shares during the last quarter. Finally, Homrich & Berg raised its holdings in Omnicom Group by 10.3% during the second quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock worth $676,000 after buying an additional 762 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on OMC shares. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a report on Saturday, May 20th. Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock 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. BidaskClub downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Credit Suisse Group restated a “neutral” rating and set a $79.00 price objective (down previously from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Two equities research 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. Omnicom Group presently has an average rating of “Hold” and an average target price of $86.00.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were 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. 1.10% of the stock is currently owned by insiders.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 73.34 on Tuesday. The company’s 50-day moving average is $76.54 and its 200-day moving average is $81.82. The stock has a market cap of $16.92 billion, a P/E ratio of 14.81 and a beta of 1.27. Omnicom Group Inc. has a 12-month low of $71.63 and a 12-month high of $89.66.
Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. Omnicom Group’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is 44.44%.
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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