Omnicom Group Inc. (OMC) Shares Bought by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 21.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,556 shares of the business services provider’s stock after purchasing an additional 2,435 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Omnicom Group were worth $1,004,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in OMC. Janus Henderson Group PLC lifted its stake in shares of Omnicom Group by 15,279.3% during the second quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock valued at $414,191,000 after acquiring an additional 4,963,787 shares during the period. Nordea Investment Management AB lifted its stake in shares of Omnicom Group by 501.5% during the second quarter. Nordea Investment Management AB now owns 2,201,826 shares of the business services provider’s stock valued at $182,531,000 after acquiring an additional 1,835,749 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Omnicom Group by 12.4% during the third quarter. First Eagle Investment Management LLC now owns 15,101,129 shares of the business services provider’s stock valued at $1,118,541,000 after acquiring an additional 1,671,452 shares during the period. Longview Partners Guernsey LTD lifted its stake in shares of Omnicom Group by 41.3% during the third quarter. Longview Partners Guernsey LTD now owns 5,653,698 shares of the business services provider’s stock valued at $418,769,000 after acquiring an additional 1,653,208 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Omnicom Group by 90.0% during the second quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock valued at $219,876,000 after acquiring an additional 1,256,005 shares during the period. Institutional investors own 98.60% of the company’s stock.
Several equities analysts have recently issued reports on the company. Citigroup raised Omnicom Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, September 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research note on Wednesday, October 18th. Jefferies Group reaffirmed a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research note on Thursday, September 21st. Royal Bank of Canada cut their price target on Omnicom Group from $96.00 to $87.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 18th. Finally, Morgan Stanley lowered Omnicom Group from an “equal weight” rating to an “underweight” rating and set a $72.00 target price on the stock. in a research note on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Omnicom Group currently has a consensus rating of “Hold” and an average price target of $84.00.
Omnicom Group Inc. (NYSE OMC) traded down $0.61 during midday trading on Friday, hitting $73.10. The stock had a trading volume of 3,311,500 shares, compared to its average volume of 1,951,860. The firm has a market capitalization of $16,992.56, a price-to-earnings ratio of 14.83, a P/E/G ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90. Omnicom Group Inc. has a 52 week low of $65.32 and a 52 week high of $88.51.
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, topping the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.69 billion. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. Omnicom Group’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. analysts anticipate that Omnicom Group Inc. will post 5.11 EPS for the current fiscal 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.28%. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.55. Omnicom Group’s dividend payout ratio (DPR) is currently 43.82%.
In other news, Director Linda Johnson Rice sold 489 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total transaction of $36,342.48. Following the sale, the director now owns 7,777 shares of the company’s stock, valued at $577,986.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Peter K. Sherman sold 8,310 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $74.31, for a total value of $617,516.10. Following the sale, the insider now directly owns 21,271 shares in the company, valued at approximately $1,580,648.01. 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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