Everence Capital Management Inc. Holds Stake in Omnicom Group Inc. (OMC)
Everence Capital Management Inc. maintained its position in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,135 shares of the business services provider’s stock at the end of the second quarter. Everence Capital Management Inc.’s holdings in Omnicom Group were worth $674,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dupont Capital Management Corp acquired a new position in Omnicom Group during the second quarter worth approximately $104,000. Invictus RG boosted its position 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 in the last quarter. FNY Partners Fund LP boosted its position 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 in the last quarter. Global X Management Co. LLC boosted its position 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 in the last quarter. Finally, Signaturefd LLC acquired a new position in Omnicom Group during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 76.76 on Friday. The stock’s 50 day moving average price is $80.03 and its 200-day moving average price is $83.10. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 15.50 and a beta of 1.25. Omnicom Group Inc. has a 52-week low of $76.74 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, beating the Zacks’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. Omnicom Group’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. On average, analysts predict that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.87%. Omnicom Group’s dividend payout ratio (DPR) is presently 44.44%.
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A number of research firms recently commented on OMC. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a “buy” rating in a report on Saturday, May 20th. BidaskClub lowered Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $90.00 to $83.00 in a research report on Tuesday, June 6th. Finally, Wells Fargo & Company reissued a “hold” rating and issued a $84.00 target price on shares of Omnicom Group in a research report on Tuesday, July 18th. 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. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $86.00.
In related news, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the transaction, the treasurer now owns 44,161 shares in the company, valued at approximately $3,493,576.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the transaction, the chairman now owns 105,250 shares in the company, valued at approximately $8,936,777.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,183 shares of company stock worth $2,046,845. 1.10% of the stock is owned by company insiders.
Omnicom Group Company Profile
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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