Commonwealth Equity Services LLC lifted its holdings in Omnicom Group Inc. (NYSE:OMC) by 23.3% during the second quarter, Holdings Channel reports. The institutional investor owned 23,858 shares of the business services provider’s stock after acquiring an additional 4,516 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Omnicom Group were worth $1,820,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in OMC. Raymond James Financial Services Advisors Inc. purchased a new position in Omnicom Group in the second quarter valued at approximately $2,617,000. Aperio Group LLC lifted its stake in Omnicom Group by 4.9% in the second quarter. Aperio Group LLC now owns 177,614 shares of the business services provider’s stock valued at $13,547,000 after purchasing an additional 8,226 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its stake in Omnicom Group by 15.1% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,138,639 shares of the business services provider’s stock valued at $182,123,000 after purchasing an additional 412,929 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Omnicom Group by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,805,272 shares of the business services provider’s stock valued at $1,358,007,000 after purchasing an additional 427,284 shares during the last quarter. Finally, Boston Research & Management Inc. lifted its stake in Omnicom Group by 3.8% in the second quarter. Boston Research & Management Inc. now owns 37,889 shares of the business services provider’s stock valued at $2,889,000 after purchasing an additional 1,390 shares during the last quarter.
Several research firms recently commented on OMC. ValuEngine upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Friday, July 6th. Moffett Nathanson assumed coverage on shares of Omnicom Group in a report on Tuesday, June 19th. They set a “sell” rating and a $63.00 target price on the stock. Morgan Stanley lowered their target price on shares of Omnicom Group from $76.00 to $73.00 and set an “underweight” rating on the stock in a report on Wednesday, May 23rd. Finally, Royal Bank of Canada lowered their target price on shares of Omnicom Group to $75.00 and set a “$70.60” rating on the stock in a report on Wednesday, July 18th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $78.08.
Shares of OMC stock opened at $69.33 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $83.34. The firm has a market cap of $15.22 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10.
Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 17th. The business services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. Omnicom Group had a net margin of 7.45% and a return on equity of 40.82%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. sell-side analysts expect that Omnicom Group Inc. will post 5.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 21st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $2.40 annualized dividend and a dividend yield of 3.46%. Omnicom Group’s payout ratio is currently 47.06%.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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