Chase Investment Counsel Corp continued to hold its stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,250 shares of the company’s stock at the end of the second quarter. Chase Investment Counsel Corp’s holdings in Omnicom Group were worth $264,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of OMC. Wellington Management Group LLP purchased a new stake in Omnicom Group during the first quarter worth $40,095,000. Cypress Capital Group raised its stake in Omnicom Group by 58.3% in the first quarter. Cypress Capital Group now owns 11,794 shares of the company’s stock worth $982,000 after buying an additional 4,344 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Omnicom Group by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 211,987 shares of the company’s stock worth $17,275,000 after buying an additional 772 shares during the period. Acadian Asset Management LLC raised its stake in Omnicom Group by 88.1% in the second quarter. Acadian Asset Management LLC now owns 12,086 shares of the company’s stock worth $984,000 after buying an additional 5,662 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Omnicom Group during the first quarter worth $110,000. 97.04% of the stock is currently owned by institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 1.44% during midday trading on Thursday, reaching $84.05. 825,956 shares of the company’s stock traded hands. Omnicom Group Inc. has a one year low of $64.87 and a one year high of $87.50. The company has a market capitalization of $19.88 billion, a price-to-earnings ratio of 18.38 and a beta of 1.33. The company has a 50-day moving average of $84.82 and a 200-day moving average of $83.24.
Omnicom Group (NYSE:OMC) last released its earnings results on Thursday, July 14th. The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the business earned $1.26 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Omnicom Group Inc. will post $4.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s payout ratio is 48.04%.
A number of research firms recently weighed in on OMC. BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a report on Sunday, July 17th. Zacks Investment Research cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Albert Fried & Company reissued a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. Telsey Advisory Group boosted their price target on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 20th. Finally, Credit Suisse Group AG started coverage on shares of Omnicom Group in a research note on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.00.
In other news, Director Linda Johnson Rice sold 824 shares of Omnicom Group stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the sale, the director now owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.
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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