Summit Global Investments Acquires 3,787 Shares of Omnicom Group Inc. (OMC)
Summit Global Investments increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,713 shares of the business services provider’s stock after purchasing an additional 3,787 shares during the period. Omnicom Group makes up 1.6% of Summit Global Investments’ portfolio, making the stock its 19th biggest position. Summit Global Investments’ holdings in Omnicom Group were worth $5,282,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Parallel Advisors LLC raised its position in Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after purchasing an additional 104 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Omnicom Group in the second quarter worth about $104,000. Invictus RG raised its position in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after purchasing an additional 1,812 shares in the last quarter. FNY Partners Fund LP raised its position in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after purchasing an additional 700 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock worth $194,000 after purchasing an additional 510 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.
Omnicom Group Inc. (NYSE OMC) traded up 0.51% during mid-day trading on Monday, hitting $73.20. 267,105 shares of the stock traded hands. Omnicom Group Inc. has a one year low of $71.63 and a one year high of $89.66. The stock has a market capitalization of $16.89 billion, a PE ratio of 14.78 and a beta of 1.27. The company has a 50 day moving average price of $76.54 and a 200-day moving average price of $81.84.
Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the 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 net margin of 7.61% and a return on equity of 42.54%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 EPS. Equities analysts anticipate that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is 44.44%.
Several research firms recently issued reports on OMC. Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $83.00 in a research report on Tuesday, June 6th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a report on Saturday, May 20th. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price objective on shares of Omnicom Group in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. Omnicom Group presently has a consensus rating of “Hold” and an average target price of $86.00.
In related news, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the transaction, the treasurer now directly owns 44,161 shares in the company, valued at approximately $3,493,576.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Omnicom Group 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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