Omnicom Group Inc. (OMC) Stake Lessened by Gotham Asset Management LLC
Gotham Asset Management LLC decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 18.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 277,381 shares of the business services provider’s stock after selling 61,419 shares during the period. Gotham Asset Management LLC owned approximately 0.12% of Omnicom Group worth $22,995,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC increased its stake in shares of Omnicom Group by 8.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 104 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Omnicom Group during the 2nd quarter valued at $104,000. Acrospire Investment Management LLC acquired a new stake in shares of Omnicom Group during the 2nd quarter valued at $149,000. Invictus RG boosted its holdings in shares of Omnicom Group by 1,098.2% during the 1st quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after acquiring an additional 1,812 shares in the last quarter. Finally, FNY Partners Fund LP boosted its holdings in shares of Omnicom Group by 46.7% during the 1st quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 98.60% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE OMC) traded down 0.68% on Friday, reaching $75.85. The company’s stock had a trading volume of 374,805 shares. Omnicom Group Inc. has a 12 month low of $71.63 and a 12 month high of $89.66. The stock has a 50 day moving average of $74.10 and a 200-day moving average of $80.43. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 15.32 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $3.74 billion. During the same period last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.88%. Omnicom Group’s dividend payout ratio (DPR) is currently 44.44%.
Several equities research analysts recently weighed in on OMC shares. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Friday, July 14th. Wells Fargo & Company reissued a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price objective on shares of Omnicom Group in a report on Friday, July 14th. Finally, BMO Capital Markets reissued a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company. Omnicom Group currently has an average rating of “Hold” and a consensus target price of $85.92.
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In other news, Director Linda Johnson Rice sold 483 shares of the firm’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 of the company’s stock, valued at $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Treasurer Dennis E. Hewitt sold 900 shares of the firm’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 directly owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
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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