Omnicom Group Inc. (OMC) Shares Sold by First Trust Advisors LP
First Trust Advisors LP lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 432,038 shares of the business services provider’s stock after selling 37,464 shares during the period. First Trust Advisors LP’s holdings in Omnicom Group were worth $35,816,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of 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. bought a new stake in shares of Omnicom Group during the second quarter worth about $153,358,000. Morgan Stanley raised its stake in shares of 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. WINTON GROUP Ltd raised its stake in shares of 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. Finally, Epoch Investment Partners Inc. bought a new stake in shares of Omnicom Group during the first quarter worth about $47,259,000. 98.02% of the stock is owned by institutional investors and hedge funds.
Omnicom Group Inc. (OMC) opened at 77.75 on Monday. Omnicom Group Inc. has a 12-month low of $77.50 and a 12-month high of $89.66. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 15.70 and a beta of 1.25. The company has a 50 day moving average of $80.76 and a 200-day moving average of $83.41.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The company also recently declared 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 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 44.44%.
A number of equities research analysts have issued reports on OMC shares. Evercore ISI started coverage on shares of Omnicom Group in a 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. 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. Wedbush cut their price objective on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Credit Suisse Group reaffirmed a “neutral” rating and set a $79.00 price objective (down from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Finally, Zacks Investment Research raised 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. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. Omnicom Group has an average rating of “Hold” and a consensus price target of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of the business’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 completion of the sale, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The disclosure for this sale can be found here. Insiders have sold 24,183 shares of company stock valued at $2,046,845 over the last quarter. 1.10% of the stock is owned by company 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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