The Manufacturers Life Insurance Company Sells 137,851 Shares of Omnicom Group Inc. $OMC

The Manufacturers Life Insurance Company trimmed its position in Omnicom Group Inc. (NYSE:OMC) by 33.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 280,459 shares of the business services provider’s stock after selling 137,851 shares during the period. The Manufacturers Life Insurance Company’s holdings in Omnicom Group were worth $20,426,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in OMC. California State Teachers Retirement System lifted its position in Omnicom Group by 6,250.5% during the second quarter. California State Teachers Retirement System now owns 33,804,190 shares of the business services provider’s stock valued at $2,461,959,000 after buying an additional 33,271,882 shares during the period. BlackRock Inc. purchased a new stake in shares of Omnicom Group in the 2nd quarter worth about $2,082,476,000. Bank of New York Mellon Corp bought a new position in shares of Omnicom Group in the 2nd quarter worth about $914,156,000. State Street Corp increased its stake in shares of Omnicom Group by 40.4% in the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after acquiring an additional 6,813,441 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Omnicom Group by 522.9% during the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after acquiring an additional 4,364,797 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Down 0.6%

Shares of OMC stock opened at $79.00 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market cap of $21.67 billion, a P/E ratio of 68.10, a PEG ratio of 0.68 and a beta of 0.65. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. The company’s fifty day simple moving average is $83.24 and its two-hundred day simple moving average is $78.90.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. Analysts predict that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OMC shares. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. The Goldman Sachs Group started coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Citigroup reduced their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and a consensus price target of $99.00.

Insider Activity

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director owned 11,719 shares in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom’s agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.