International Value Advisers LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 566,771 shares of the business services provider’s stock, valued at approximately $41,278,000. Omnicom Group comprises 1.2% of International Value Advisers LLC’s holdings, making the stock its 25th largest position. International Value Advisers LLC owned approximately 0.25% of Omnicom Group as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in OMC. SeaCrest Wealth Management LLC acquired a new position in shares of Omnicom Group during the 4th quarter worth approximately $104,000. MUFG Americas Holdings Corp grew its position in shares of Omnicom Group by 123.8% during the 4th quarter. MUFG Americas Holdings Corp now owns 1,531 shares of the business services provider’s stock worth $112,000 after purchasing an additional 847 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Omnicom Group during the 4th quarter worth approximately $199,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Omnicom Group during the 3rd quarter worth approximately $205,000. Finally, Oak Point Wealth Management acquired a new position in shares of Omnicom Group during the 4th quarter worth approximately $219,000. Institutional investors and hedge funds own 98.62% of the company’s stock.
A number of research analysts have issued reports on the stock. TheStreet lowered shares of Omnicom Group from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st. Atlantic Securities upgraded shares of Omnicom Group from an “underweight” rating to a “neutral” rating in a research report on Friday, March 2nd. Wells Fargo & Co restated a “hold” rating and set a $80.00 target price on shares of Omnicom Group in a research report on Friday, February 16th. Barclays restated a “hold” rating and set a $81.00 target price on shares of Omnicom Group in a research report on Thursday, January 25th. Finally, Macquarie upgraded shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $77.00 target price on the stock in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Omnicom Group presently has a consensus rating of “Hold” and an average target price of $82.77.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.01. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. Omnicom Group had a net margin of 7.12% and a return on equity of 40.67%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 EPS. research analysts forecast that Omnicom Group Inc. will post 5.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Investors of record on Friday, March 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, March 8th. Omnicom Group’s payout ratio is 51.72%.
In related news, Treasurer Dennis E. Hewitt sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $77.38, for a total value of $154,760.00. Following the completion of the transaction, the treasurer now owns 42,561 shares of the company’s stock, valued at approximately $3,293,370.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.
COPYRIGHT VIOLATION WARNING: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/03/12/566771-shares-in-omnicom-group-inc-omc-purchased-by-international-value-advisers-llc.html.
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.
Receive News & Ratings for Omnicom Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group and related companies with MarketBeat.com's FREE daily email newsletter.