Pacad Investment Ltd. Takes Position in Omnicom Group Inc. (OMC)
Pacad Investment Ltd. purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,500 shares of the business services provider’s stock, valued at approximately $1,036,000.
A number of other large investors have also recently modified their holdings of OMC. BlackRock Inc. raised its stake in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares during the period. Beutel Goodman & Co Ltd. purchased a new stake in shares of Omnicom Group during the second quarter valued at about $153,358,000. Morgan Stanley raised its stake in shares of Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after buying an additional 1,194,001 shares during the period. Pzena Investment Management LLC raised its stake in shares of Omnicom Group by 21.3% in the second quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock valued at $495,658,000 after buying an additional 1,049,746 shares during the period. Finally, WINTON GROUP Ltd raised its stake in shares of Omnicom Group by 769.0% in the first quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock valued at $60,415,000 after buying an additional 628,969 shares during the period. 98.68% of the stock is owned by hedge funds and other institutional investors.
Shares of Omnicom Group Inc. (NYSE OMC) opened at 71.94 on Friday. Omnicom Group Inc. has a 1-year low of $71.72 and a 1-year high of $89.66. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 14.53 and a beta of 1.27. The stock has a 50 day moving average price of $77.84 and a 200-day moving average price of $82.26.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Equities research analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 annualized dividend and a yield of 3.06%. Omnicom Group’s dividend payout ratio is currently 44.44%.
Several equities research analysts have issued reports on OMC shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a research note on Friday, July 14th. Credit Suisse Group reaffirmed a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Friday, July 14th. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the transaction, the director now owns 7,724 shares in the company, valued at $634,835.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group 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 transaction, 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. Company 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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