Marshall Wace LLP Has $1.74 Million Position in Omnicom Group Inc. (OMC)
Marshall Wace LLP cut its position in Omnicom Group Inc. (NYSE:OMC) by 86.5% during the first quarter, Holdings Channel reports. The fund owned 20,221 shares of the business services provider’s stock after selling 129,561 shares during the period. Marshall Wace LLP’s holdings in Omnicom Group were worth $1,739,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of OMC. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Omnicom Group during the fourth quarter worth approximately $982,000. Summit Global Investments bought a new stake in shares of Omnicom Group during the fourth quarter worth approximately $4,625,000. Cigna Investments Inc. New bought a new stake in shares of Omnicom Group during the fourth quarter worth approximately $745,000. Congress Asset Management Co. MA bought a new stake in shares of Omnicom Group during the fourth quarter worth approximately $3,779,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Omnicom Group by 4.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,732 shares of the business services provider’s stock worth $999,000 after buying an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 97.50% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at 82.73 on Tuesday. Omnicom Group Inc. has a 12 month low of $75.61 and a 12 month high of $89.66. The firm’s 50-day moving average price is $82.99 and its 200-day moving average price is $84.70. The stock has a market cap of $19.25 billion, a P/E ratio of 16.87 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 18th. The business services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. Omnicom Group had a return on equity of 42.34% and a net margin of 7.54%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. On average, analysts predict that Omnicom Group Inc. will post $5.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Wednesday, June 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, June 12th. Omnicom Group’s dividend payout ratio (DPR) is 44.81%.
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A number of brokerages have recently commented on OMC. Bank of America Corporation began coverage on Omnicom Group in a research note on Thursday, March 2nd. They issued a “neutral” rating and a $91.00 target price on the stock. 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 on the stock. They noted that the move was a valuation call. Royal Bank Of Canada restated a “buy” rating and issued a $101.00 target price on shares of Omnicom Group in a research note on Tuesday, April 11th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 7th. Finally, Macquarie downgraded Omnicom Group from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $86.23.
In other news, Director Leonard S. Coleman, Jr. sold 2,038 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $83.93, for a total transaction of $171,049.34. Following the sale, the director now owns 24,853 shares of the company’s stock, valued at approximately $2,085,912.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was 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 disclosure for this sale can be found here. 1.10% of the stock is 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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