Boston Partners Lowers Stake in Omnicom Group Inc. (NYSE:OMC)
Boston Partners lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 6.8% during the second quarter, Holdings Channel reports. The firm owned 2,332,520 shares of the business services provider’s stock after selling 170,961 shares during the period. Boston Partners’ holdings in Omnicom Group were worth $193,366,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of OMC. BlackRock Inc. increased its position in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares during the period. Beutel Goodman & Co Ltd. bought a new position in shares of Omnicom Group during the second quarter valued at about $153,358,000. Morgan Stanley increased its position in shares of Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after buying an additional 1,194,001 shares during the period. WINTON GROUP Ltd increased its position in shares of Omnicom Group by 769.0% in the first quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock valued at $60,415,000 after buying an additional 628,969 shares during the period. Finally, Epoch Investment Partners Inc. bought a new position in shares of Omnicom Group during the first quarter valued at about $47,259,000. Institutional investors and hedge funds own 98.68% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at 77.75 on Friday. The firm has a market capitalization of $17.94 billion, a P/E ratio of 15.70 and a beta of 1.25. Omnicom Group Inc. has a 52-week low of $77.50 and a 52-week high of $89.66. The firm’s 50-day moving average is $80.76 and its 200-day moving average is $83.41.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is currently 44.44%.
TRADEMARK VIOLATION WARNING: This report was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://theolympiareport.com/2017/08/12/boston-partners-lowers-stake-in-omnicom-group-inc-nyseomc.html.
Several research analysts recently issued reports on OMC shares. Evercore ISI started coverage on shares of Omnicom Group in a research report on Monday, April 17th. They set an “in-line” rating and a $91.00 price target on the stock. They noted that the move was a valuation call. Wedbush reduced their price target on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research report on Friday, July 14th. Credit Suisse Group reiterated 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. Finally, Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Omnicom Group currently has a consensus rating of “Hold” and a consensus price target of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction dated 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 in the company, valued at $634,835.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, 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. Over the last 90 days, insiders have sold 24,183 shares of company stock worth $2,046,845. Company insiders own 1.10% of the company’s stock.
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.
Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMC).
Receive News & Ratings for Omnicom Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.