Papp L Roy & Associates continued to hold its position in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, Holdings Channel reports. The firm owned 3,115 shares of the company’s stock at the end of the second quarter. Papp L Roy & Associates’ holdings in Omnicom Group were worth $254,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Omnicom Group during the first quarter valued at about $535,000. Commonwealth Equity Services Inc increased its position in shares of Omnicom Group by 24.6% in the first quarter. Commonwealth Equity Services Inc now owns 10,039 shares of the company’s stock valued at $836,000 after buying an additional 1,985 shares during the period. Virginia Retirement System bought a new position in shares of Omnicom Group during the first quarter valued at about $327,000. Ngam Advisors L.P. increased its position in shares of Omnicom Group by 62.5% in the first quarter. Ngam Advisors L.P. now owns 76,385 shares of the company’s stock valued at $6,358,000 after buying an additional 29,391 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of Omnicom Group by 11.3% in the first quarter. TIAA CREF Investment Management LLC now owns 625,610 shares of the company’s stock valued at $52,070,000 after buying an additional 63,400 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) traded down 1.33% during mid-day trading on Tuesday, reaching $83.32. The company had a trading volume of 1,247,981 shares. The firm’s 50-day moving average is $84.88 and its 200-day moving average is $83.37. The firm has a market capitalization of $19.71 billion, a P/E ratio of 18.22 and a beta of 1.35. Omnicom Group Inc. has a one year low of $66.48 and a one year high of $87.50.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.03. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.91 billion. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. Omnicom Group’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. On average, equities research analysts anticipate that Omnicom Group Inc. will post $4.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Stockholders 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 dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s payout ratio is 48.04%.
Several research analysts recently issued reports on OMC shares. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Albert Fried & Company reissued a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a report on Thursday, July 14th. BMO Capital Markets reissued a “hold” rating and set a $80.00 price objective on shares of Omnicom Group in a report on Sunday, July 17th. Telsey Advisory Group boosted their price objective on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, July 20th. Finally, Credit Suisse Group AG assumed coverage on Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.00.
In other news, Director Linda Johnson Rice sold 824 shares of Omnicom Group stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the sale, the director now directly owns 30,440 shares of the company’s stock, valued at $2,573,702. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
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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