BlackRock Inc. lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,587,783 shares of the business services provider’s stock after selling 453,274 shares during the period. BlackRock Inc. owned 7.19% of Omnicom Group worth $1,375,128,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of OMC. Beutel Goodman & Co Ltd. acquired a new stake in shares of Omnicom Group during the 2nd quarter worth about $153,358,000. Alliancebernstein L.P. raised its position in shares of Omnicom Group by 90.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock worth $219,876,000 after acquiring an additional 1,256,005 shares in the last quarter. Morgan Stanley raised its position in shares of Omnicom Group by 268.1% during the 1st quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock worth $141,325,000 after acquiring an additional 1,194,001 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Omnicom Group by 21.3% during the 2nd quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock worth $495,658,000 after acquiring an additional 1,049,746 shares in the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Omnicom Group by 769.0% during the 1st quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock worth $60,415,000 after acquiring an additional 628,969 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Linda Johnson Rice sold 483 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the sale, the director now directly owns 7,724 shares in the company, valued at approximately $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the sale, the treasurer now owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Omnicom Group Inc. (NYSE:OMC) opened at 73.04 on Friday. The stock has a market capitalization of $16.85 billion, a P/E ratio of 14.75 and a beta of 1.27. The firm has a 50 day moving average price of $75.69 and a 200 day moving average price of $81.45. Omnicom Group Inc. has a 52 week low of $71.63 and a 52 week high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 EPS. Equities research analysts predict that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s payout ratio is 44.44%.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Citigroup Inc. raised Omnicom Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 6th. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $83.00 in a research report on Tuesday, June 6th. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, BidaskClub lowered Omnicom Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. Omnicom Group has an average rating of “Hold” and an average price target of $85.92.
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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