Trexquant Investment LP Increases Stake in Omnicom Group Inc. (NYSE:OMC)
Trexquant Investment LP raised its stake in Omnicom Group Inc. (NYSE:OMC) by 68.3% during the second quarter, Holdings Channel reports. The firm owned 10,100 shares of the business services provider’s stock after buying an additional 4,100 shares during the period. Trexquant Investment LP’s holdings in Omnicom Group were worth $837,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of OMC. Renaissance Technologies LLC acquired a new position in Omnicom Group during the fourth quarter valued at approximately $306,000. Quadrature Capital Ltd purchased a new position in shares of Omnicom Group during the fourth quarter valued at approximately $205,000. CENTRAL TRUST Co increased its position in shares of Omnicom Group by 10.2% in the first quarter. CENTRAL TRUST Co now owns 2,705 shares of the business services provider’s stock valued at $233,000 after buying an additional 250 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Omnicom Group by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 75,324 shares of the business services provider’s stock valued at $6,493,000 after buying an additional 900 shares during the last quarter. Finally, National Pension Service increased its position in shares of Omnicom Group by 7.2% in the first quarter. National Pension Service now owns 216,012 shares of the business services provider’s stock valued at $18,555,000 after buying an additional 14,502 shares during the last quarter. 98.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Omnicom Group Inc. (NYSE OMC) opened at 77.93 on Friday. The company has a 50-day moving average of $80.89 and a 200 day moving average of $83.46. Omnicom Group Inc. has a 12-month low of $77.50 and a 12-month high of $89.66. The company has a market cap of $17.98 billion, a PE ratio of 15.74 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Omnicom Group Inc. will post $5.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.82%. Omnicom Group’s payout ratio is 44.44%.
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Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. Barclays PLC reaffirmed a “hold” rating and issued a $86.00 target price on shares of Omnicom Group in a research note on Thursday, April 20th. Wedbush decreased their target price on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Finally, Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $86.00.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the 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 sale, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the stock in a transaction on Monday, July 24th. The stock was 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 in the company, valued at approximately $634,835.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,183 shares of company stock worth $2,046,845. Insiders own 1.10% of the company’s stock.
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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