Omnicom Group Inc. (OMC) Stake Boosted by Nordea Investment Management AB
Nordea Investment Management AB grew its holdings in Omnicom Group Inc. (NYSE:OMC) by 501.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,201,826 shares of the business services provider’s stock after purchasing an additional 1,835,749 shares during the period. Nordea Investment Management AB owned approximately 0.95% of Omnicom Group worth $182,531,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of OMC. Parallel Advisors LLC increased its stake in shares of Omnicom Group by 8.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 104 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Omnicom Group in the 2nd quarter valued at $104,000. Acrospire Investment Management LLC bought a new position in shares of Omnicom Group in the 2nd quarter valued at $149,000. Invictus RG increased its stake in shares of Omnicom Group by 1,098.2% in the 1st quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 1,812 shares during the last quarter. Finally, FNY Partners Fund LP increased its stake in shares of Omnicom Group by 46.7% in the 1st quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 98.60% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE OMC) traded up 1.04% during midday trading on Friday, reaching $75.00. The company had a trading volume of 1,482,939 shares. The company has a 50 day moving average of $75.34 and a 200 day moving average of $81.20. Omnicom Group Inc. has a one year low of $71.63 and a one year high of $89.66. The company has a market capitalization of $17.31 billion, a PE ratio of 15.15 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results 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. 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 the consensus estimate of $3.74 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post $5.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.93%. Omnicom Group’s payout ratio is 44.44%.
Several equities analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 price target on shares of Omnicom Group in a research note on Thursday. BMO Capital Markets reiterated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, September 13th. Citigroup Inc. upgraded Omnicom Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, September 6th. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, BidaskClub lowered Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $85.92.
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In other news, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction dated 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 directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the transaction, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. Company 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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