Omnicom Group Inc. (OMC) Shares Sold by WealthTrust Fairport LLC
WealthTrust Fairport LLC cut its stake in Omnicom Group Inc. (NYSE:OMC) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,113 shares of the business services provider’s stock after selling 1,527 shares during the period. WealthTrust Fairport LLC’s holdings in Omnicom Group were worth $5,895,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of OMC. BlackRock Inc. lifted its holdings in 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 worth $1,469,108,000 after buying an additional 16,507,161 shares during the period. Beutel Goodman & Co Ltd. purchased a new stake in Omnicom Group in the second quarter worth about $153,358,000. Morgan Stanley lifted its holdings 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 during the period. Pzena Investment Management LLC lifted its holdings in Omnicom Group by 21.3% in the second quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock worth $495,658,000 after buying an additional 1,049,746 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in Omnicom Group by 769.0% in the first quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock worth $60,415,000 after buying an additional 628,969 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.
Several analysts have commented on OMC shares. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Friday, July 14th. BidaskClub lowered shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the company a “buy” rating in a report on Saturday, July 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 target price on shares of Omnicom Group in a report on Friday, July 14th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $79.00 target price (down from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $86.00.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 0.91% during midday trading on Wednesday, hitting $72.38. 823,185 shares of the company traded hands. The company has a 50-day moving average price of $77.46 and a 200-day moving average price of $82.09. The stock has a market capitalization of $16.70 billion, a P/E ratio of 14.62 and a beta of 1.27. Omnicom Group Inc. has a 52 week low of $71.63 and a 52 week high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.02. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Analysts anticipate that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 3.07%. Omnicom Group’s payout ratio is presently 44.44%.
In other news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the sale, the director now owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction that occurred on 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 directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
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.