KBC Group NV Has $2.07 Million Position in Omnicom Group Inc. (OMC)
KBC Group NV reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,008 shares of the business services provider’s stock after selling 405 shares during the period. KBC Group NV’s holdings in Omnicom Group were worth $2,073,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in OMC. Beutel Goodman & Co Ltd. bought a new stake in Omnicom Group during the second quarter worth approximately $153,358,000. Stifel Financial Corp raised its stake in Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock worth $3,613,000 after buying an additional 2,291 shares during the period. Morgan Stanley raised its stake in Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock worth $141,325,000 after buying an additional 1,194,001 shares during the period. Geode Capital Management LLC raised its stake in Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock worth $211,836,000 after buying an additional 175,835 shares during the period. Finally, Cubic Asset Management LLC raised its stake in Omnicom Group by 11.1% in the second quarter. Cubic Asset Management LLC now owns 87,465 shares of the business services provider’s stock worth $7,251,000 after buying an additional 8,705 shares during the period. Hedge funds and other institutional investors own 98.68% of the company’s stock.
Omnicom Group Inc. (OMC) opened at 73.19 on Tuesday. Omnicom Group Inc. has a 1-year low of $72.64 and a 1-year high of $89.66. The firm has a market capitalization of $16.89 billion, a P/E ratio of 14.78 and a beta of 1.25. The company’s 50-day moving average price is $79.00 and its 200-day moving average price is $82.71.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the firm earned $1.36 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.55 per share. 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 3.01%. Omnicom Group’s dividend payout ratio is presently 44.44%.
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OMC has been the topic of a number of analyst reports. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Wells Fargo & Company reiterated a “hold” rating and issued a $84.00 price target on shares of Omnicom Group in a research report on Tuesday, July 18th. Credit Suisse Group reiterated a “neutral” rating and issued a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, BidaskClub lowered Omnicom Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the transaction, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 $3,493,576.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,183 shares of company stock worth $2,046,845. Insiders own 1.10% of the company’s stock.
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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