Advisor Group Inc. grew its stake in Omnicom Group Inc. (NYSE:OMC) by 150.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,649 shares of the business services provider’s stock after buying an additional 30,458 shares during the period. Advisor Group Inc.’s holdings in Omnicom Group were worth $3,689,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Pzena Investment Management LLC boosted its position in shares of Omnicom Group by 20.7% during the 4th quarter. Pzena Investment Management LLC now owns 7,653,555 shares of the business services provider’s stock valued at $557,408,000 after purchasing an additional 1,310,260 shares in the last quarter. Longview Partners Guernsey LTD boosted its position in shares of Omnicom Group by 12.4% during the 4th quarter. Longview Partners Guernsey LTD now owns 6,355,879 shares of the business services provider’s stock valued at $462,899,000 after purchasing an additional 702,181 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Omnicom Group by 28.3% during the 4th quarter. Bank of New York Mellon Corp now owns 6,194,041 shares of the business services provider’s stock valued at $451,110,000 after purchasing an additional 1,366,325 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Omnicom Group by 11.9% during the 4th quarter. Mackenzie Financial Corp now owns 4,937,280 shares of the business services provider’s stock valued at $359,582,000 after purchasing an additional 525,157 shares in the last quarter. Finally, Jensen Investment Management Inc. boosted its position in shares of Omnicom Group by 0.4% during the 4th quarter. Jensen Investment Management Inc. now owns 4,025,308 shares of the business services provider’s stock valued at $293,163,000 after purchasing an additional 16,868 shares in the last quarter. 98.62% of the stock is owned by institutional investors.
In other news, Treasurer Dennis E. Hewitt sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $77.38, for a total value of $154,760.00. Following the transaction, the treasurer now owns 42,561 shares in the company, valued at $3,293,370.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Omnicom Group (NYSE:OMC) last posted its earnings results on Thursday, February 15th. The business services provider reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.01. Omnicom Group had a return on equity of 40.67% and a net margin of 7.12%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the company earned $1.47 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. equities analysts expect that Omnicom Group Inc. will post 5.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Friday, March 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.26%. Omnicom Group’s dividend payout ratio is presently 46.97%.
Several equities research analysts recently commented on the company. TheStreet upgraded Omnicom Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. 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. Pivotal Research cut their target price on Omnicom Group from $76.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 15th. Macquarie upgraded 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. Finally, BMO Capital Markets upgraded Omnicom Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $80.00 to $90.00 in a research report on Friday, February 16th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $82.77.
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Omnicom Group Company Profile
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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