Omnicom Group Inc. (OMC) Stake Raised by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale raised its position in Omnicom Group Inc. (NYSE:OMC) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,042 shares of the business services provider’s stock after buying an additional 50,031 shares during the period. DekaBank Deutsche Girozentrale owned about 0.10% of Omnicom Group worth $20,212,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of OMC. Stifel Financial Corp raised its position in Omnicom Group by 5.8% in 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 in the last quarter. Morgan Stanley increased its stake in Omnicom Group by 268.1% in 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 in the last quarter. Geode Capital Management LLC increased its stake in Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock worth $211,836,000 after buying an additional 175,835 shares in the last quarter. Beutel Goodman & Co Ltd. bought a new stake in Omnicom Group during the second quarter worth approximately $153,358,000. Finally, Cribstone Capital Management LLC bought a new stake in Omnicom Group during the first quarter worth approximately $164,000. 98.68% of the stock is currently owned by institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 77.75 on Friday. The firm’s 50-day moving average is $80.76 and its 200-day moving average is $83.41. Omnicom Group Inc. has a one year low of $77.50 and a one year high of $89.66. The company has a market cap of $17.94 billion, a PE ratio of 15.70 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last issued 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 business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.83%. Omnicom Group’s dividend payout ratio is currently 44.44%.
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A number of research analysts have issued reports on the company. Evercore ISI began coverage on Omnicom Group in a research note on Monday, April 17th. They issued an “in-line” rating and a $91.00 target price for the company. They noted that the move was a valuation call. Wedbush reduced their price target on Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Credit Suisse Group reissued a “neutral” rating and set a $79.00 price target (down from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Omnicom Group has an average rating of “Hold” and a consensus price target of $86.00.
In other news, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $84.91, for a total value of $1,935,948.00. Following the sale, the chairman now directly owns 105,250 shares in the company, valued at approximately $8,936,777.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $71,199.00. Following the completion of 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 quarter, insiders sold 24,183 shares of company stock worth $2,046,845. 1.10% of the stock is currently owned by insiders.
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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