River & Mercantile Asset Management LLP Acquires Shares of 30,650 Omnicom Group Inc. (OMC)
River & Mercantile Asset Management LLP bought a new stake in Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,650 shares of the business services provider’s stock, valued at approximately $2,609,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Omnicom Group during the fourth quarter worth $176,690,000. PagnatoKarp Partners LLC purchased a new stake in Omnicom Group during the fourth quarter worth $1,828,000. Thrivent Financial for Lutherans boosted its stake in Omnicom Group by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,250 shares of the business services provider’s stock worth $702,000 after buying an additional 510 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in Omnicom Group during the fourth quarter worth $260,000. Finally, Heritage Way Advisors LLC purchased a new stake in Omnicom Group during the fourth quarter worth $1,977,000. Institutional investors own 96.65% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 0.63% during midday trading on Thursday, hitting $84.08. 1,425,620 shares of the stock were exchanged. Omnicom Group Inc. has a one year low of $75.61 and a one year high of $89.66. The firm has a 50 day moving average of $84.91 and a 200-day moving average of $84.62. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 17.59 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, April 18th. The business services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. Omnicom Group had a return on equity of 40.97% and a net margin of 7.42%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Equities analysts expect that Omnicom Group Inc. will post $5.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 7th. Investors of record on Thursday, March 9th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.62%. The ex-dividend date was Tuesday, March 7th. Omnicom Group’s payout ratio is presently 45.93%.
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A number of research firms have recently weighed in on OMC. Barclays PLC restated a “hold” rating and issued a $86.00 price target on shares of Omnicom Group in a report on Thursday. Wedbush decreased their price objective 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. Evercore ISI initiated coverage on shares of Omnicom Group in a research report on Monday. They issued an “in-line” rating and a $91.00 price objective for the company. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 11th. Finally, Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $86.92.
In related news, Treasurer Dennis E. Hewitt sold 1,400 shares of the firm’s stock in a transaction on Saturday, February 11th. The stock was sold at an average price of $85.14, for a total transaction of $119,196.00. Following the sale, the treasurer now owns 37,175 shares of the company’s stock, valued at approximately $3,165,079.50. The sale 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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