OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 159.9% during the 2nd quarter, Holdings Channel reports. The firm owned 12,840 shares of the business services provider’s stock after purchasing an additional 7,900 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Omnicom Group were worth $979,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of OMC. Oppenheimer & Co. Inc. bought a new stake in shares of Omnicom Group in the first quarter worth $216,000. Victory Capital Management Inc. boosted its position in Omnicom Group by 3.6% during the first quarter. Victory Capital Management Inc. now owns 146,584 shares of the business services provider’s stock valued at $10,652,000 after acquiring an additional 5,048 shares during the last quarter. State of Wisconsin Investment Board boosted its position in Omnicom Group by 13.0% during the first quarter. State of Wisconsin Investment Board now owns 211,984 shares of the business services provider’s stock valued at $15,405,000 after acquiring an additional 24,327 shares during the last quarter. Aperio Group LLC boosted its position in Omnicom Group by 4.5% during the first quarter. Aperio Group LLC now owns 169,388 shares of the business services provider’s stock valued at $12,309,000 after acquiring an additional 7,360 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Omnicom Group by 36.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 58,483 shares of the business services provider’s stock valued at $4,250,000 after acquiring an additional 15,554 shares during the last quarter.
A number of analysts have commented on OMC shares. Morgan Stanley cut their price target on shares of Omnicom Group from $76.00 to $73.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 23rd. Wells Fargo & Co reaffirmed a “market perform” rating and set a $75.00 price target (down previously from $80.00) on shares of Omnicom Group in a research report on Tuesday, July 17th. ValuEngine raised shares of Omnicom Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price target on shares of Omnicom Group in a research report on Thursday, July 19th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and an average price target of $78.08.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 17th. The business services provider reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.06. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Omnicom Group had a net margin of 7.45% and a return on equity of 40.82%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. sell-side analysts expect that Omnicom Group Inc. will post 5.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 21st will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, September 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.48%. Omnicom Group’s dividend payout ratio (DPR) is presently 47.06%.
In other news, Director Linda Johnson Rice sold 475 shares of the stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $70.02, for a total transaction of $33,259.50. Following the transaction, the director now owns 7,966 shares of the company’s stock, valued at approximately $557,779.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,075 shares of company stock worth $74,289 in the last three months. Insiders own 1.20% of the company’s stock.
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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