Sciencast Management LP bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,200 shares of the business services provider’s stock, valued at approximately $503,000.
Several other hedge funds and other institutional investors have also bought and sold shares of OMC. Wellington Management Group LLP increased its holdings in Omnicom Group by 1,192.5% in the 1st quarter. Wellington Management Group LLP now owns 1,029,423 shares of the business services provider’s stock valued at $56,516,000 after buying an additional 949,777 shares during the period. State Street Corp raised its position in Omnicom Group by 6.5% in the 1st quarter. State Street Corp now owns 12,223,835 shares of the business services provider’s stock valued at $678,488,000 after purchasing an additional 745,690 shares during the last quarter. Unigestion Holding SA bought a new stake in Omnicom Group during the 1st quarter worth about $34,653,000. Invesco Ltd. raised its position in Omnicom Group by 19.4% in the 1st quarter. Invesco Ltd. now owns 3,855,870 shares of the business services provider’s stock worth $211,690,000 after purchasing an additional 625,551 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Omnicom Group by 105.7% during the first quarter. Acadian Asset Management LLC now owns 960,017 shares of the business services provider’s stock worth $52,705,000 after acquiring an additional 493,384 shares during the last quarter. 99.31% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on OMC shares. Wolfe Research assumed coverage on Omnicom Group in a research report on Thursday, July 23rd. They set a “market perform” rating and a $60.00 target price for the company. Morgan Stanley decreased their target price on shares of Omnicom Group from $78.00 to $57.00 and set an “underweight” rating for the company in a research report on Tuesday, April 28th. Finally, Cfra dropped their price objective on Omnicom Group from $80.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $69.63.
Shares of NYSE OMC opened at $53.73 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 2.41. The business’s 50 day moving average price is $54.70 and its two-hundred day moving average price is $60.90. The company has a market cap of $11.54 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.66 and a beta of 0.73. Omnicom Group Inc. has a twelve month low of $46.37 and a twelve month high of $82.73.
Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 28th. The business services provider reported $0.92 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. Omnicom Group had a return on equity of 38.27% and a net margin of 6.72%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the company posted $1.68 EPS. The firm’s revenue for the quarter was down 24.7% compared to the same quarter last year. As a group, research analysts anticipate that Omnicom Group Inc. will post 4.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 12th. Shareholders of record on Monday, September 21st will be issued a $0.65 dividend. The ex-dividend date is Friday, September 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.84%. Omnicom Group’s dividend payout ratio is currently 42.90%.
Omnicom Group 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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