Marino Stram & Associates LLC increased its stake in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,158 shares of the business services provider’s stock after purchasing an additional 163 shares during the period. Marino Stram & Associates LLC’s holdings in Omnicom Group were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in OMC. Atlas Capital Advisors LLC grew its position in Omnicom Group by 6,720.0% during the first quarter. Atlas Capital Advisors LLC now owns 341 shares of the business services provider’s stock valued at $29,000 after buying an additional 336 shares during the period. Carl Stuart Investment Advisor Inc. bought a new position in shares of Omnicom Group during the first quarter worth $34,000. Independence Bank of Kentucky bought a new position in shares of Omnicom Group during the first quarter worth $37,000. MV Capital Management Inc. raised its stake in Omnicom Group by 63.2% during the first quarter. MV Capital Management Inc. now owns 444 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 172 shares in the last quarter. Finally, M&R Capital Management Inc. raised its stake in Omnicom Group by 400.0% during the first quarter. M&R Capital Management Inc. now owns 500 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 400 shares in the last quarter. 90.85% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on OMC. ING Group began coverage on shares of Omnicom Group in a research note on Thursday, September 8th. They set a “buy” rating on the stock. They noted that the move was a valuation call. Redburn Partners reaffirmed a “neutral” rating on shares of Omnicom Group in a research note on Thursday, September 8th. Barclays increased their target price on shares of Omnicom Group from $70.00 to $78.00 in a research note on Friday, September 16th. Exane BNP Paribas initiated coverage on shares of Omnicom Group in a research note on Thursday, August 25th. They issued an “underperform” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $96.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $84.70.
Omnicom Group Stock Performance
Omnicom Group (NYSE:OMC – Get Rating) last released its earnings results on Tuesday, July 19th. The business services provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Omnicom Group had a return on equity of 39.15% and a net margin of 9.07%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that Omnicom Group Inc. will post 6.37 earnings per share for the current fiscal year.
Omnicom Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 4.37%. Omnicom Group’s dividend payout ratio is currently 45.83%.
Insider Transactions at Omnicom Group
In other news, VP Michael J. Obrien sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $70.47, for a total transaction of $1,268,460.00. Following the completion of the sale, the vice president now owns 131,118 shares in the company, valued at approximately $9,239,885.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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