Livforsakringsbolaget Skandia Omsesidigt Takes $8.09 Million Position in Omnicom Group Inc. $OMC

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 110,118 shares of the business services provider’s stock, valued at approximately $8,093,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OMC. Activest Wealth Management raised its position in shares of Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after acquiring an additional 296 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in shares of Omnicom Group in the 2nd quarter valued at about $25,000. Elyxium Wealth LLC acquired a new position in Omnicom Group in the 4th quarter worth about $26,000. Legacy Wealth Managment LLC ID boosted its position in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Finally, EFG International AG purchased a new position in Omnicom Group during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target on the stock. Citigroup cut their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Morgan Stanley upped their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Rothschild & Co Redburn initiated coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $99.00.

Omnicom Group Stock Up 0.5%

NYSE OMC opened at $88.32 on Friday. The business has a fifty day moving average price of $81.71 and a 200 day moving average price of $78.19. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. The company has a market cap of $24.23 billion, a P/E ratio of 76.14, a P/E/G ratio of 0.58 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). The business had revenue of $6.56 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. Research analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. Omnicom Group’s dividend payout ratio is presently 275.86%.

Omnicom Group Profile

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.