Parallel Advisors LLC Acquires 104 Shares of Omnicom Group Inc. (OMC)
Parallel Advisors LLC raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the business services provider’s stock after buying an additional 104 shares during the period. Parallel Advisors LLC’s holdings in Omnicom Group were worth $102,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in Omnicom Group during the fourth quarter valued at $306,000. Strs Ohio raised its stake in Omnicom Group by 2.6% in the first quarter. Strs Ohio now owns 8,765 shares of the business services provider’s stock valued at $755,000 after buying an additional 222 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Omnicom Group by 5.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,206 shares of the business services provider’s stock valued at $1,655,000 after buying an additional 1,025 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Omnicom Group during the first quarter valued at $3,467,000. Finally, Advisor Partners LLC raised its stake in Omnicom Group by 7.5% in the first quarter. Advisor Partners LLC now owns 4,300 shares of the business services provider’s stock valued at $371,000 after buying an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.
Omnicom Group Inc. (OMC) opened at 72.31 on Thursday. The company has a 50-day moving average of $79.00 and a 200-day moving average of $82.71. Omnicom Group Inc. has a 12 month low of $72.00 and a 12 month high of $89.66. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 14.60 and a beta of 1.25. Omnicom Group also saw some unusual options trading on Tuesday. Stock investors acquired 6,021 put options on the stock. This is an increase of approximately 638% compared to the average daily volume of 816 put options.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Analysts predict that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders 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 dividend yield of 3.04%. Omnicom Group’s payout ratio is 44.44%.
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Several analysts have weighed in on OMC shares. Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the company a “buy” rating in a research note on Saturday, May 20th. Macquarie lowered shares of 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. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $79.00 target price (down previously from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $86.00.
In other news, Treasurer Dennis E. Hewitt sold 900 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda Johnson Rice sold 483 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The disclosure for this sale can be found here. Corporate 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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