Johnson Financial Group Inc. Decreases Holdings in Omnicom Group Inc. (OMC)
Johnson Financial Group Inc. trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 48.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,456 shares of the business services provider’s stock after selling 4,175 shares during the quarter. Johnson Financial Group Inc.’s holdings in Omnicom Group were worth $369,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in OMC. Strs Ohio lifted its stake in Omnicom Group by 2.6% in the 1st quarter. Strs Ohio now owns 8,765 shares of the business services provider’s stock worth $755,000 after purchasing an additional 222 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Omnicom Group in the 1st quarter worth approximately $3,467,000. Commerzbank Aktiengesellschaft FI lifted its stake in Omnicom Group by 2.5% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,010 shares of the business services provider’s stock worth $432,000 after purchasing an additional 123 shares in the last quarter. American Century Companies Inc. lifted its stake in Omnicom Group by 38.3% in the 1st quarter. American Century Companies Inc. now owns 958,371 shares of the business services provider’s stock worth $82,621,000 after purchasing an additional 265,577 shares in the last quarter. Finally, FTB Advisors Inc. lifted its stake in Omnicom Group by 4,030.9% in the 1st quarter. FTB Advisors Inc. now owns 21,811 shares of the business services provider’s stock worth $1,839,000 after purchasing an additional 21,283 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.
In other Omnicom Group news, 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 of the company’s stock, valued at $3,493,576.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was 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 approximately $634,835.56. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
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A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Friday, July 14th. BidaskClub downgraded shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a report on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a report on Friday, July 14th. Finally, Credit Suisse Group restated a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $86.00.
Omnicom Group Inc. (OMC) traded up 0.50% during mid-day trading on Friday, reaching $72.83. 1,331,920 shares of the company traded hands. The stock has a market capitalization of $16.81 billion, a PE ratio of 14.71 and a beta of 1.27. Omnicom Group Inc. has a 52-week low of $71.63 and a 52-week high of $89.66. The stock has a 50-day moving average of $76.71 and a 200 day moving average of $81.89.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate 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 was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. Equities research analysts expect 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. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
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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