Airain ltd Boosts Stake in Omnicom Group Inc. (OMC)
Airain ltd raised its position in Omnicom Group Inc. (NYSE:OMC) by 512.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,607 shares of the business services provider’s stock after buying an additional 92,559 shares during the period. Airain ltd’s holdings in Omnicom Group were worth $9,169,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Coho Partners Ltd. increased its stake in shares of Omnicom Group by 24.4% in the second quarter. Coho Partners Ltd. now owns 2,071,844 shares of the business services provider’s stock valued at $171,756,000 after buying an additional 406,480 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after buying an additional 104 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Omnicom Group by 91.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,868 shares of the business services provider’s stock valued at $1,067,000 after buying an additional 6,140 shares in the last quarter. Aviva PLC increased its stake in shares of Omnicom Group by 196.6% in the second quarter. Aviva PLC now owns 434,873 shares of the business services provider’s stock valued at $36,051,000 after buying an additional 288,240 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Omnicom Group by 16.2% in the second quarter. Victory Capital Management Inc. now owns 27,389 shares of the business services provider’s stock valued at $2,271,000 after buying an additional 3,822 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE OMC) opened at 73.13 on Friday. Omnicom Group Inc. has a 12-month low of $72.64 and a 12-month high of $89.66. The firm has a 50-day moving average price of $79.00 and a 200-day moving average price of $82.71. The firm has a market cap of $16.88 billion, a P/E ratio of 14.77 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last released its earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during 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 revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. On average, equities research analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 3.01%. Omnicom Group’s dividend payout ratio (DPR) is currently 44.44%.
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OMC has been the subject of several recent research reports. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a report on Saturday, May 20th. Macquarie downgraded Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $83.00 in a report on Tuesday, June 6th. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub downgraded Omnicom Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $79.00 price target (down 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, eleven have assigned a hold rating and one has issued a buy rating to the stock. Omnicom Group currently has an average rating of “Hold” and a consensus price target of $86.00.
In other news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction on 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 sale, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction on 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 completion of the sale, the chairman now directly owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The disclosure for this sale can be found here. Insiders sold a total of 24,183 shares of company stock valued at $2,046,845 over the last three months. 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.
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