Coastline Trust Co Buys 355 Shares of Omnicom Group Inc. (OMC)
Coastline Trust Co increased its stake in Omnicom Group Inc. (NYSE:OMC) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,535 shares of the business services provider’s stock after buying an additional 355 shares during the quarter. Coastline Trust Co’s holdings in Omnicom Group were worth $3,028,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Jensen Investment Management Inc. grew its stake in shares of Omnicom Group by 11.3% in the second quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock valued at $290,047,000 after buying an additional 354,285 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in shares of Omnicom Group in the second quarter valued at about $153,358,000. Stifel Financial Corp grew its stake in shares of Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock valued at $3,613,000 after buying an additional 2,291 shares in the last quarter. Morgan Stanley grew 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 in the last quarter. Finally, Comgest Global Investors S.A.S. grew its stake in shares of Omnicom Group by 2.2% in the second quarter. Comgest Global Investors S.A.S. now owns 136,500 shares of the business services provider’s stock valued at $11,316,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.
A number of research firms have recently issued reports on OMC. Macquarie lowered 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 Omnicom Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. 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 Saturday, May 20th. Wells Fargo & Company reiterated a “hold” rating and issued a $84.00 target price on shares of Omnicom Group in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $86.00.
In related news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction dated 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 $634,835.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value 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. Insiders own 1.10% of the company’s stock.
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Omnicom Group Inc. (NYSE:OMC) traded up 0.43% on Monday, reaching $73.14. The company’s stock had a trading volume of 221,160 shares. Omnicom Group Inc. has a 52 week low of $71.63 and a 52 week high of $89.66. The stock’s 50 day moving average is $76.54 and its 200-day moving average is $81.84. The firm has a market capitalization of $16.88 billion, a PE ratio of 14.77 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Analysts predict that Omnicom Group Inc. will post $5.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be paid a dividend of $0.55 per share. 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 is 44.44%.
Omnicom Group 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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