Omnicom Group Inc. (OMC) Shares Bought by Royal Bank of Canada
Royal Bank of Canada boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 52.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 260,312 shares of the business services provider’s stock after acquiring an additional 90,028 shares during the period. Royal Bank of Canada owned about 0.11% of Omnicom Group worth $21,581,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of OMC. Parallel Advisors LLC raised its position in shares of Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after buying an additional 104 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Omnicom Group in the second quarter valued at about $104,000. Acrospire Investment Management LLC purchased a new stake in shares of Omnicom Group in the second quarter valued at about $149,000. Invictus RG grew its holdings in shares of Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 1,812 shares during the period. Finally, FNY Partners Fund LP grew its holdings in shares of Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 700 shares during the period. Institutional investors own 98.60% of the company’s stock.
A number of brokerages recently issued reports on OMC. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a research note on Saturday, July 22nd. BidaskClub lowered shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research note on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $85.92.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction on Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the transaction, the director now owns 7,724 shares in the company, valued at approximately $634,835.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the transaction, the treasurer now owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Omnicom Group Inc. (OMC) opened at 74.45 on Wednesday. Omnicom Group Inc. has a 12-month low of $71.63 and a 12-month high of $89.66. The stock has a market cap of $17.18 billion, a PE ratio of 15.03 and a beta of 1.28. The firm has a 50-day moving average price of $73.91 and a 200-day moving average price of $80.16.
Omnicom Group (NYSE:OMC) last released its earnings results 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 analyst estimates of $3.74 billion. During the same quarter last year, the firm posted $1.36 EPS. The company’s revenue was down 2.4% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post $5.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 22nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.96%. Omnicom Group’s dividend payout ratio (DPR) is presently 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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