Omnicom Group Inc. (OMC) Stake Lessened by Commonwealth Bank of Australia
Commonwealth Bank of Australia lowered its position in Omnicom Group Inc. (NYSE:OMC) by 6.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 28,691 shares of the business services provider’s stock after selling 1,941 shares during the period. Commonwealth Bank of Australia’s holdings in Omnicom Group were worth $2,377,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jensen Investment Management Inc. lifted its position in shares of Omnicom Group by 11.3% in the 2nd quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock worth $290,047,000 after purchasing an additional 354,285 shares during the period. Beutel Goodman & Co Ltd. acquired a new position in shares of Omnicom Group in the 2nd quarter worth approximately $153,358,000. Stifel Financial Corp lifted its position in shares of Omnicom Group by 5.8% in the 1st quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock worth $3,613,000 after purchasing an additional 2,291 shares during the period. Morgan Stanley lifted its position in shares of Omnicom Group by 268.1% in the 1st quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock worth $141,325,000 after purchasing an additional 1,194,001 shares during the period. Finally, Homrich & Berg lifted its position in shares of Omnicom Group by 10.3% in the 2nd quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock worth $676,000 after purchasing an additional 762 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.
Shares of Omnicom Group Inc. (OMC) opened at 73.34 on Tuesday. The stock has a 50 day moving average of $76.54 and a 200 day moving average of $81.82. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 14.81 and a beta of 1.27. Omnicom Group Inc. has a 1-year low of $71.63 and a 1-year high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.38 by $0.02. The business 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 company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post $5.08 EPS 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 given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total transaction of $71,199.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the transaction, 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. Company insiders own 1.10% of the company’s stock.
A number of research analysts have recently issued reports on OMC shares. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Friday, July 14th. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Wells Fargo & Company restated a “hold” rating and issued a $84.00 price target on shares of Omnicom Group in a research report on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 target price on shares of Omnicom Group in a research report on Friday, July 14th. Finally, Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $90.00 to $83.00 in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $86.00.
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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