RNC Capital Management LLC increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 28.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 648,966 shares of the business services provider’s stock after buying an additional 145,222 shares during the quarter. Omnicom Group comprises 2.5% of RNC Capital Management LLC’s portfolio, making the stock its 10th largest holding. RNC Capital Management LLC owned about 0.30% of Omnicom Group worth $40,476,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Brinker Capital Investments LLC acquired a new stake in Omnicom Group in the third quarter worth approximately $2,018,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Omnicom Group by 6.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,827 shares of the business services provider’s stock worth $2,714,000 after purchasing an additional 3,261 shares during the period. Point72 Asset Management L.P. acquired a new stake in Omnicom Group in the third quarter worth approximately $39,429,000. Van ECK Associates Corp lifted its position in Omnicom Group by 13.0% in the third quarter. Van ECK Associates Corp now owns 14,237 shares of the business services provider’s stock worth $705,000 after purchasing an additional 1,639 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Omnicom Group by 9.4% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 83,617 shares of the business services provider’s stock worth $4,139,000 after purchasing an additional 7,200 shares during the period. 95.18% of the stock is owned by institutional investors and hedge funds.
Shares of OMC traded down $0.99 during mid-day trading on Wednesday, reaching $62.94. The company’s stock had a trading volume of 1,753,647 shares, compared to its average volume of 2,013,497. The business has a fifty day moving average of $63.15 and a 200 day moving average of $55.88. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63. Omnicom Group Inc. has a 1 year low of $44.50 and a 1 year high of $81.00. The company has a quick ratio of 0.88, a current ratio of 0.98 and a debt-to-equity ratio of 1.85.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 27th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.09. The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.05 billion. Omnicom Group had a return on equity of 36.90% and a net margin of 7.10%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, analysts predict that Omnicom Group Inc. will post 4.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 11th. Stockholders of record on Monday, December 21st were issued a $0.65 dividend. The ex-dividend date was Friday, December 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.13%. Omnicom Group’s payout ratio is currently 42.90%.
A number of equities research analysts have weighed in on the company. Huber Research upgraded Omnicom Group from an “underweight” rating to an “overweight” rating in a research report on Friday, October 30th. Smith Barney Citigroup upped their target price on Omnicom Group from $60.00 to $75.00 in a research report on Tuesday, December 15th. Evercore ISI upgraded Omnicom Group from an “underperform” rating to an “in-line” rating in a research report on Monday, November 2nd. ValuEngine upgraded Omnicom Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 10th. Finally, Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $62.78.
About Omnicom Group
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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