Royal London Asset Management Ltd. lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265,138 shares of the business services provider’s stock after acquiring an additional 14,234 shares during the period. Royal London Asset Management Ltd. owned 0.12% of Omnicom Group worth $21,735,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in shares of Omnicom Group by 2.6% during the first quarter. BlackRock Inc. now owns 16,305,379 shares of the business services provider’s stock worth $1,190,131,000 after acquiring an additional 420,390 shares during the last quarter. Janus Henderson Group PLC grew its position in Omnicom Group by 13.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,158,808 shares of the business services provider’s stock valued at $303,552,000 after buying an additional 494,508 shares during the last quarter. Geode Capital Management LLC grew its position in Omnicom Group by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 3,852,265 shares of the business services provider’s stock valued at $281,767,000 after buying an additional 597,017 shares during the last quarter. Beutel Goodman & Co Ltd. grew its position in Omnicom Group by 0.7% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,239,540 shares of the business services provider’s stock valued at $176,939,000 after buying an additional 21,673 shares during the last quarter. Finally, Jensen Investment Management Inc. grew its position in Omnicom Group by 4.9% in the 1st quarter. Jensen Investment Management Inc. now owns 2,717,284 shares of the business services provider’s stock valued at $198,335,000 after buying an additional 126,091 shares during the last quarter.
A number of research firms recently weighed in on OMC. Barclays reiterated a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Sunday, July 21st. ValuEngine lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets lowered shares of Omnicom Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $88.00 to $86.00 in a research report on Sunday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Omnicom Group has a consensus rating of “Hold” and a consensus price target of $80.33.
Shares of NYSE OMC traded up $1.49 during trading on Tuesday, hitting $79.35. 387,933 shares of the company were exchanged, compared to its average volume of 2,031,800. The stock has a market cap of $17.09 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 2.56 and a beta of 0.71. Omnicom Group Inc. has a 1 year low of $65.85 and a 1 year high of $85.05. The stock has a fifty day moving average price of $81.32. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.76 and a current ratio of 0.85.
Omnicom Group (NYSE:OMC) last issued its earnings results on Wednesday, July 17th. The business services provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.61 by $0.07. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. Omnicom Group had a net margin of 8.89% and a return on equity of 43.86%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 EPS. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 6.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 20th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.60 annualized dividend and a dividend yield of 3.28%. Omnicom Group’s payout ratio is currently 45.22%.
In other Omnicom Group news, Chairman John Wren sold 60,541 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $79.84, for a total transaction of $4,833,593.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew Castellaneta sold 2,000 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $80.16, for a total transaction of $160,320.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Omnicom Group Company 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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