Acadian Asset Management LLC Purchases 355,474 Shares of Omnicom Group Inc. (OMC)
Acadian Asset Management LLC raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 167.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,169 shares of the business services provider’s stock after acquiring an additional 355,474 shares during the period. Acadian Asset Management LLC’s holdings in Omnicom Group were worth $41,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of OMC. Eagle Ridge Investment Management purchased a new stake in shares of Omnicom Group during the 3rd quarter worth approximately $201,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Omnicom Group during the 3rd quarter worth approximately $205,000. Cable Hill Partners LLC raised its holdings in shares of Omnicom Group by 3,527.5% during the 3rd quarter. Cable Hill Partners LLC now owns 2,902 shares of the business services provider’s stock worth $215,000 after acquiring an additional 2,822 shares in the last quarter. Oak Point Wealth Management purchased a new stake in shares of Omnicom Group during the 4th quarter worth approximately $219,000. Finally, MML Investors Services LLC raised its holdings in shares of Omnicom Group by 16.2% during the 2nd quarter. MML Investors Services LLC now owns 3,013 shares of the business services provider’s stock worth $250,000 after acquiring an additional 421 shares in the last quarter.
In other Omnicom Group news, insider Peter K. Sherman sold 8,310 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $74.31, for a total value of $617,516.10. Following the transaction, the insider now owns 21,271 shares of the company’s stock, valued at approximately $1,580,648.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 19th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Monday, December 18th. This is an increase from Omnicom Group’s previous quarterly dividend of $0.55. Omnicom Group’s dividend payout ratio is 47.81%.
OMC has been the topic of several recent research reports. Credit Suisse Group decreased their price target on Omnicom Group from $79.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, October 11th. Zacks Investment Research lowered Omnicom Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Argus upgraded Omnicom Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Macquarie lowered Omnicom Group from a “neutral” rating to an “underperform” rating and set a $83.00 price target on the stock. in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada decreased their price target on Omnicom Group from $96.00 to $87.00 and set an “outperform” rating on the stock in a report on Wednesday, October 18th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $83.71.
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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