Morningstar Investment Services LLC lowered its position in Omnicom Group Inc. (NYSE:OMC) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 451,116 shares of the business services provider’s stock after selling 13,639 shares during the quarter. Morningstar Investment Services LLC owned 0.21% of Omnicom Group worth $24,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of OMC. Guggenheim Capital LLC raised its position in Omnicom Group by 14.8% during the 4th quarter. Guggenheim Capital LLC now owns 196,573 shares of the business services provider’s stock worth $15,926,000 after purchasing an additional 25,396 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Omnicom Group by 8.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,999 shares of the business services provider’s stock valued at $1,586,000 after purchasing an additional 1,777 shares in the last quarter. Pearl River Capital LLC raised its holdings in Omnicom Group by 15.0% during the fourth quarter. Pearl River Capital LLC now owns 3,670 shares of the business services provider’s stock worth $297,000 after buying an additional 480 shares during the last quarter. Norges Bank bought a new position in shares of Omnicom Group in the fourth quarter valued at $159,189,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Omnicom Group by 69.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the business services provider’s stock valued at $157,000 after buying an additional 852 shares during the last quarter. 99.31% of the stock is currently owned by hedge funds and other institutional investors.
OMC has been the topic of a number of analyst reports. Wolfe Research began coverage on shares of Omnicom Group in a report on Thursday, July 23rd. They issued a “market perform” rating and a $60.00 target price on the stock. Cfra lowered their price objective on Omnicom Group from $80.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, April 28th. Finally, Morgan Stanley cut their target price on Omnicom Group from $78.00 to $57.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $69.63.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. Omnicom Group had a return on equity of 38.27% and a net margin of 6.72%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The business’s revenue for the quarter was down 24.7% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post 4.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 12th. Investors of record on Monday, September 21st will be given a dividend of $0.65 per share. The ex-dividend date is Friday, September 18th. This represents a $2.60 annualized dividend and a yield of 4.84%. Omnicom Group’s payout ratio is currently 42.90%.
Omnicom Group Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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