Chicago Equity Partners LLC Lowers Stake in Omnicom Group Inc. (OMC)
Chicago Equity Partners LLC reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 98.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,585 shares of the business services provider’s stock after selling 279,500 shares during the quarter. Chicago Equity Partners LLC’s holdings in Omnicom Group were worth $297,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cleararc Capital Inc. boosted its position in shares of Omnicom Group by 0.3% during the 1st quarter. Cleararc Capital Inc. now owns 5,744 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 19 shares during the last quarter. RMB Capital Management LLC lifted its position in Omnicom Group by 0.9% in the first quarter. RMB Capital Management LLC now owns 2,427 shares of the business services provider’s stock worth $209,000 after buying an additional 21 shares during the last quarter. MUFG Americas Holdings Corp lifted its position in Omnicom Group by 0.3% in the first quarter. MUFG Americas Holdings Corp now owns 8,326 shares of the business services provider’s stock worth $718,000 after buying an additional 26 shares during the last quarter. Sawtooth Solutions LLC lifted its position in Omnicom Group by 0.4% in the first quarter. Sawtooth Solutions LLC now owns 8,961 shares of the business services provider’s stock worth $773,000 after buying an additional 33 shares during the last quarter. Finally, Pennsylvania Trust Co lifted its position in Omnicom Group by 1.1% in the second quarter. Pennsylvania Trust Co now owns 4,596 shares of the business services provider’s stock worth $381,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.
OMC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a “buy” rating in a research note on Saturday, July 22nd. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and cut their price target for the company from $90.00 to $83.00 in a research note on Tuesday, June 6th. BidaskClub lowered Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a research note on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and a consensus target price of $85.92.
In other news, 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 transaction of $71,199.00. Following the sale, the treasurer now directly owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now directly owns 7,724 shares in the company, valued at $634,835.56. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Omnicom Group Inc. (NYSE OMC) opened at 73.65 on Thursday. The firm has a market cap of $17.00 billion, a price-to-earnings ratio of 14.87 and a beta of 1.27. The stock has a 50 day moving average price of $76.18 and a 200 day moving average price of $81.66. Omnicom Group Inc. has a 52 week low of $71.63 and a 52 week 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 Zacks’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post $5.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s 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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