Omnicom Group Inc. (OMC) Position Raised by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,042 shares of the business services provider’s stock after buying an additional 50,031 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Omnicom Group were worth $20,212,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Cribstone Capital Management LLC acquired a new stake in shares of Omnicom Group during the first quarter worth approximately $164,000. Invictus RG boosted its stake 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 valued at $170,000 after buying an additional 1,812 shares during the last quarter. FNY Partners Fund LP boosted its stake 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 valued at $189,000 after buying an additional 700 shares during the last quarter. Global X Management Co. LLC boosted its stake 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 valued at $194,000 after buying an additional 510 shares during the last quarter. Finally, Huntington Steele LLC purchased a new stake in Omnicom Group during the first quarter valued at about $202,000. 98.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Omnicom Group Inc. (OMC) opened at 77.75 on Friday. Omnicom Group Inc. has a 52-week low of $77.50 and a 52-week high of $89.66. The firm has a market cap of $17.94 billion, a P/E ratio of 15.70 and a beta of 1.25. The company’s 50-day moving average is $80.76 and its 200-day moving average is $83.41.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.36 EPS. Equities research analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s payout ratio is presently 44.44%.
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Several equities research analysts recently issued reports on OMC shares. Evercore ISI assumed coverage on shares of Omnicom Group in a research report on Monday, April 17th. They set an “in-line” rating and a $91.00 price objective for the company. They noted that the move was a valuation call. Wedbush lowered their price objective on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Credit Suisse Group reissued a “neutral” rating and issued a $79.00 price objective (down previously from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and a consensus target price of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of the business’s 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 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 legal filing with the SEC, which is available through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were 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 in the company, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. Insiders have sold a total of 24,183 shares of company stock worth $2,046,845 in the last three months. 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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