NN Investment Partners Holdings N.V. lowered its position in Omnicom Group Inc. (NYSE:OMC) by 38.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,099 shares of the business services provider’s stock after selling 10,708 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Omnicom Group were worth $1,417,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC purchased a new stake in Omnicom Group during the first quarter worth approximately $164,000. Invictus RG increased its stake 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 worth $170,000 after buying an additional 1,812 shares during the last quarter. FNY Partners Fund LP increased its stake 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 worth $189,000 after buying an additional 700 shares during the last quarter. Global X Management Co. LLC increased its stake 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 worth $194,000 after buying an additional 510 shares during the last quarter. Finally, Huntington Steele LLC purchased a new stake in Omnicom Group during the first quarter worth approximately $202,000. Institutional investors and hedge funds own 96.68% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at 82.70 on Friday. The stock has a market capitalization of $19.25 billion, a PE ratio of 16.86 and a beta of 1.27. Omnicom Group Inc. has a 52-week low of $78.67 and a 52-week high of $89.66. The firm has a 50-day moving average of $82.31 and a 200-day moving average of $84.08.
Omnicom Group (NYSE:OMC) last posted its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.02. Omnicom Group had a net margin of 7.54% and a return on equity of 42.34%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the business posted $1.36 EPS. Omnicom Group’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts expect that Omnicom Group Inc. will post $5.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.66%. Omnicom Group’s payout ratio is presently 44.81%.
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A number of analysts recently weighed in on the stock. Macquarie cut shares of Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $83.00 in a research report on Tuesday, June 6th. Barclays PLC reaffirmed a “hold” rating and set a $86.00 price target on shares of Omnicom Group in a research report on Thursday, April 20th. Wedbush decreased their price target on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Zacks Investment Research cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Finally, Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $85.83.
In related news, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $84.91, for a total value of $1,935,948.00. Following the transaction, the chairman now directly owns 105,250 shares in the company, valued at approximately $8,936,777.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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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