PGGM Investments increased its stake in Omnicom Group Inc. (NYSE:OMC) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 527,331 shares of the company’s stock after buying an additional 34,588 shares during the period. PGGM Investments’ holdings in Omnicom Group were worth $42,972,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. 1832 Asset Management L.P. increased its stake in shares of Omnicom Group by 475.8% in the first quarter. 1832 Asset Management L.P. now owns 853,450 shares of the company’s stock valued at $117,757,000 after buying an additional 705,240 shares during the period. Bank of Montreal Can bought a new stake in shares of Omnicom Group during the second quarter valued at about $40,767,000. Wellington Management Group LLP bought a new stake in shares of Omnicom Group during the first quarter valued at about $40,095,000. Panagora Asset Management Inc. increased its stake in shares of Omnicom Group by 1,502.8% in the first quarter. Panagora Asset Management Inc. now owns 481,428 shares of the company’s stock valued at $40,069,000 after buying an additional 451,392 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of Omnicom Group by 194.5% in the first quarter. Riverhead Capital Management LLC now owns 348,471 shares of the company’s stock valued at $29,002,000 after buying an additional 230,146 shares during the period. Institutional investors and hedge funds own 97.04% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) traded down 1.32% during mid-day trading on Friday, hitting $84.23. The company had a trading volume of 1,008,344 shares. The firm’s 50 day moving average is $84.55 and its 200 day moving average is $83.06. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of 18.42 and a beta of 1.33. Omnicom Group Inc. has a 52 week low of $64.12 and a 52 week high of $87.50.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The company earned $3.88 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Omnicom Group Inc. will post $4.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is presently 48.04%.
Several equities research analysts recently issued reports on OMC shares. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Telsey Advisory Group upped their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, July 20th. Credit Suisse Group AG started coverage on Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price target for the company. Albert Fried & Company reiterated a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a report on Thursday, July 14th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $81.00.
In related news, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the transaction, the director now owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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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