Beacon Investment Advisory Services Inc. Takes Position in Omnicom Group Inc. (OMC)
Beacon Investment Advisory Services Inc. purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,283 shares of the business services provider’s stock, valued at approximately $1,058,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after buying an additional 104 shares in the last quarter. Dupont Capital Management Corp purchased a new position in Omnicom Group in the second quarter valued at about $104,000. Acrospire Investment Management LLC purchased a new position in Omnicom Group in the second quarter valued at about $149,000. Eagle Ridge Investment Management purchased a new position in Omnicom Group in the third quarter valued at about $201,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Omnicom Group in the third quarter valued at about $205,000. 98.60% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Linda Johnson Rice sold 489 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $74.32, for a total value of $36,342.48. Following the sale, the director now directly owns 7,777 shares in the company, valued at $577,986.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on the stock. Credit Suisse Group increased their target price on shares of Omnicom Group from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, October 18th. Zacks Investment Research cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Royal Bank of Canada dropped their target price on shares of Omnicom Group from $96.00 to $87.00 and set an “outperform” rating for the company in a report on Wednesday, October 18th. Telsey Advisory Group raised shares of Omnicom Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $86.00 to $89.00 in a report on Wednesday, October 18th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $84.00.
Omnicom Group Inc. (OMC) traded up $0.96 during mid-day trading on Tuesday, hitting $74.44. 2,570,600 shares of the stock traded hands, compared to its average volume of 1,945,989. The firm has a market capitalization of $16,939.54, a price-to-earnings ratio of 14.78, a PEG ratio of 1.96 and a beta of 1.24. Omnicom Group Inc. has a twelve month low of $65.32 and a twelve month high of $89.66. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.69 billion. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. sell-side analysts expect that Omnicom Group Inc. will post 5.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Tuesday, December 19th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, December 18th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. Omnicom Group’s dividend payout ratio is currently 43.82%.
About Omnicom Group
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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