Omnicom Group Inc. (OMC) Position Boosted by Homrich & Berg
Homrich & Berg raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,160 shares of the business services provider’s stock after buying an additional 762 shares during the period. Homrich & Berg’s holdings in Omnicom Group were worth $676,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC raised its position in Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after buying an additional 104 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Omnicom Group during the second quarter valued at $104,000. Invictus RG raised 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 valued at $170,000 after buying an additional 1,812 shares during the last quarter. FNY Partners Fund LP raised 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 valued at $189,000 after buying an additional 700 shares during the last quarter. Finally, Global X Management Co. LLC raised 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 valued at $194,000 after buying an additional 510 shares during the last quarter. 98.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Omnicom Group Inc. (NYSE OMC) opened at 72.83 on Wednesday. Omnicom Group Inc. has a 1-year low of $72.61 and a 1-year high of $89.66. The stock’s 50 day moving average price is $79.00 and its 200 day moving average price is $82.71. The company has a market cap of $16.81 billion, a P/E ratio of 14.71 and a beta of 1.25. Omnicom Group also was the recipient of some unusual options trading activity on Tuesday. Traders bought 6,021 put options on the stock. This represents an increase of approximately 638% compared to the average daily volume of 816 put options.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The firm had revenue of $3.79 billion during 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%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. Equities research analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.20 annualized dividend and a yield of 3.02%. Omnicom Group’s dividend payout ratio (DPR) is 44.44%.
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A number of brokerages have commented on OMC. Zacks Investment Research downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Macquarie downgraded Omnicom Group from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $83.00 in a research note on Tuesday, June 6th. Royal Bank Of Canada set a $96.00 target price on Omnicom Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. BidaskClub downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company restated a “hold” rating and issued a $84.00 target price on shares of Omnicom Group in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $86.00.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the sale, the chairman now owns 105,250 shares in the company, valued at approximately $8,936,777.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,183 shares of company stock valued at $2,046,845. 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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