Cambridge Investment Research Advisors Inc. lifted its position in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 57.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,391 shares of the business services provider's stock after buying an additional 12,231 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Omnicom Group were worth $2,124,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dynamic Advisor Solutions LLC raised its stake in Omnicom Group by 10.5% during the first quarter. Dynamic Advisor Solutions LLC now owns 8,050 shares of the business services provider's stock worth $683,000 after acquiring an additional 768 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Omnicom Group by 8.5% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 17,838 shares of the business services provider's stock valued at $1,514,000 after buying an additional 1,398 shares during the last quarter. Signaturefd LLC raised its position in Omnicom Group by 17.6% in the 1st quarter. Signaturefd LLC now owns 5,488 shares of the business services provider's stock valued at $466,000 after buying an additional 820 shares during the last quarter. American Trust bought a new position in Omnicom Group in the 1st quarter valued at $212,000. Finally, Edmond DE Rothschild Holding S.A. grew its stake in Omnicom Group by 13.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,755 shares of the business services provider's stock valued at $149,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 90.85% of the company's stock.
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Omnicom Group Stock Performance
NYSE:OMC opened at $63.46 on Friday. The business's 50-day moving average price is $68.60 and its two-hundred day moving average price is $72.17. Omnicom Group Inc. has a twelve month low of $61.31 and a twelve month high of $91.61. The stock has a market cap of $13.00 billion, a P/E ratio of 10.39, a PEG ratio of 3.96 and a beta of 0.84. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.65.
Omnicom Group (NYSE:OMC – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The business services provider reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. The company had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.47 billion. Omnicom Group had a return on equity of 39.15% and a net
margin of 9.07%. Omnicom Group's revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. As a group, equities analysts predict that Omnicom Group Inc. will post 6.37 EPS for the current fiscal year.
Omnicom Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Wednesday, September 21st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.41%. Omnicom Group's dividend payout ratio is 45.83%.
Insider Activity at Omnicom Group
In related news, VP Michael J. Obrien sold 18,000 shares of the firm's stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $70.47, for a total transaction of $1,268,460.00. Following the transaction, the vice president now directly owns 131,118 shares of the company's stock, valued at approximately $9,239,885.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Omnicom Group from $84.00 to $70.00 and set an "underweight" rating for the company in a research note on Friday, June 10th. ING Group assumed coverage on Omnicom Group in a research note on Thursday, September 8th. They set a "buy" rating for the company. They noted that the move was a valuation call. Exane BNP Paribas started coverage on Omnicom Group in a report on Thursday, August 25th. They set an "underperform" rating on the stock. Barclays increased their price objective on Omnicom Group from $70.00 to $78.00 in a report on Friday, September 16th. Finally, Wells Fargo & Company increased their price objective on Omnicom Group from $73.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, July 20th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $84.70.
Omnicom Group Profile
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Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
Further Reading
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