Omnicom Group Inc. $OMC Shares Purchased by Saudi Central Bank

Saudi Central Bank grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 71.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,949 shares of the business services provider’s stock after purchasing an additional 8,337 shares during the period. Saudi Central Bank’s holdings in Omnicom Group were worth $1,453,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of OMC. Resona Asset Management Co. Ltd. boosted its position in shares of Omnicom Group by 55.4% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after buying an additional 35,247 shares during the period. Orca Investment Management LLC acquired a new position in shares of Omnicom Group during the second quarter valued at $2,023,000. Gamco Investors INC. ET AL raised its stake in shares of Omnicom Group by 6,819.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 214,222 shares of the business services provider’s stock valued at $17,298,000 after purchasing an additional 211,126 shares in the last quarter. Abacus Wealth Partners LLC bought a new stake in shares of Omnicom Group during the fourth quarter valued at about $1,752,000. Finally, DNB Asset Management AS lifted its holdings in Omnicom Group by 479.7% in the fourth quarter. DNB Asset Management AS now owns 213,772 shares of the business services provider’s stock worth $17,262,000 after purchasing an additional 176,894 shares during the period. Institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on OMC shares. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Zacks Research cut Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Trading Down 1.7%

Shares of NYSE OMC opened at $81.22 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The company has a market cap of $22.28 billion, a price-to-earnings ratio of 70.02, a P/E/G ratio of 0.71 and a beta of 0.65. The business has a fifty day simple moving average of $83.17 and a 200-day simple moving average of $78.94.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Sell-side analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s payout ratio is presently 275.86%.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.