Long Road Investment Counsel LLC increased its stake in Omnicom Group Inc. (NYSE:OMC) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 37,050 shares of the business services provider’s stock after acquiring an additional 770 shares during the quarter. Omnicom Group comprises 1.7% of Long Road Investment Counsel LLC’s holdings, making the stock its 20th largest position. Long Road Investment Counsel LLC’s holdings in Omnicom Group were worth $2,704,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Global Retirement Partners LLC increased its position in Omnicom Group by 5.2% during the 1st quarter. Global Retirement Partners LLC now owns 2,825 shares of the business services provider’s stock valued at $206,000 after purchasing an additional 139 shares during the period. Segall Bryant & Hamill LLC increased its position in Omnicom Group by 0.4% during the 4th quarter. Segall Bryant & Hamill LLC now owns 40,068 shares of the business services provider’s stock valued at $2,935,000 after purchasing an additional 141 shares during the period. JOYN Advisors Inc. increased its position in Omnicom Group by 47.2% during the 4th quarter. JOYN Advisors Inc. now owns 443 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the period. Securian Asset Management Inc boosted its holdings in shares of Omnicom Group by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 22,741 shares of the business services provider’s stock valued at $1,660,000 after buying an additional 145 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its holdings in shares of Omnicom Group by 16.4% in the 4th quarter. Archford Capital Strategies LLC now owns 1,202 shares of the business services provider’s stock valued at $88,000 after buying an additional 169 shares in the last quarter.
A number of research firms have recently weighed in on OMC. BMO Capital Markets raised their price target on shares of Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $76.00 to $84.00 in a report on Wednesday, April 17th. Citigroup raised their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Finally, Macquarie set a $76.00 price target on shares of Omnicom Group and gave the company a “hold” rating in a report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $77.33.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.09. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. As a group, equities research analysts forecast that Omnicom Group Inc. will post 5.93 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, June 13th. Omnicom Group’s dividend payout ratio (DPR) is presently 45.22%.
In related news, CEO Jonathan B. Nelson sold 4,916 shares of Omnicom Group stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $84.22, for a total value of $414,025.52. Following the completion of the sale, the chief executive officer now directly owns 83,858 shares in the company, valued at approximately $7,062,520.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John Wren sold 60,541 shares of Omnicom Group stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total transaction of $4,833,593.44. The disclosure for this sale can be found here. Insiders sold a total of 72,910 shares of company stock valued at $5,834,558 over the last quarter. 1.10% of the stock is owned by company insiders.
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Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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