Xact Kapitalforvaltning AB reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 38,430 shares of the business services provider’s stock after selling 517 shares during the period. Xact Kapitalforvaltning AB’s holdings in Omnicom Group were worth $3,186,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Cribstone Capital Management LLC purchased a new position in Omnicom Group during the first quarter valued at approximately $164,000. Invictus RG increased its position in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after buying an additional 1,812 shares in the last quarter. FNY Partners Fund LP increased its position in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC increased its position in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after buying an additional 510 shares in the last quarter. Finally, Huntington Steele LLC purchased a new position in Omnicom Group during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 97.50% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 81.50 on Monday. The company has a market capitalization of $18.97 billion, a P/E ratio of 16.62 and a beta of 1.27. The firm has a 50-day moving average price of $82.87 and a 200-day moving average price of $84.58. Omnicom Group Inc. has a one year low of $78.67 and a one year high of $89.66.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 18th. The business services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.55 billion. Omnicom Group had a return on equity of 42.34% and a net margin of 7.54%. Omnicom Group’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. Equities analysts forecast that Omnicom Group Inc. will post $5.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Wednesday, June 14th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Monday, June 12th. Omnicom Group’s payout ratio is 44.81%.
A number of equities analysts have recently issued reports on the company. Royal Bank of Canada restated a “buy” rating and set a $101.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 11th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Barclays PLC restated a “hold” rating and set a $86.00 price objective on shares of Omnicom Group in a research report on Thursday, April 20th. Evercore ISI assumed coverage on Omnicom Group in a research report on Monday, April 17th. They set an “in-line” rating and a $91.00 price objective for the company. They noted that the move was a valuation call. Finally, Wedbush lowered their price objective on Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $86.23.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the completion of the transaction, the chairman now owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leonard S. Coleman, Jr. sold 2,038 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $83.93, for a total value of $171,049.34. Following the transaction, the director now directly owns 24,853 shares of the company’s stock, valued at approximately $2,085,912.29. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
About Omnicom Group
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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