Daiwa Securities Group Inc. grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 31.3% in the first quarter, Holdings Channel reports. The institutional investor owned 16,370 shares of the business services provider’s stock after acquiring an additional 3,899 shares during the period. Daiwa Securities Group Inc.’s holdings in Omnicom Group were worth $1,390,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in OMC. AE Wealth Management LLC lifted its position in shares of Omnicom Group by 10.6% during the fourth quarter. AE Wealth Management LLC now owns 5,346 shares of the business services provider’s stock valued at $392,000 after purchasing an additional 512 shares in the last quarter. Allworth Financial LP lifted its position in shares of Omnicom Group by 168.0% during the fourth quarter. Allworth Financial LP now owns 946 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 593 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Omnicom Group by 116.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,288 shares of the business services provider’s stock valued at $461,000 after purchasing an additional 3,389 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Omnicom Group during the fourth quarter valued at about $55,000. Finally, Signaturefd LLC lifted its position in shares of Omnicom Group by 99.4% during the fourth quarter. Signaturefd LLC now owns 4,668 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 2,327 shares in the last quarter. 93.08% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently weighed in on OMC shares. Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, June 23rd. Morgan Stanley lowered their price objective on shares of Omnicom Group from $84.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, June 10th. Barclays lowered their price objective on shares of Omnicom Group from $90.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Omnicom Group from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $83.90.
Insider Activity at Omnicom Group
In related news, Director Linda Johnson Rice sold 1,900 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $77.88, for a total transaction of $147,972.00. Following the completion of the transaction, the director now owns 9,784 shares of the company’s stock, valued at $761,977.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.
Omnicom Group Stock Performance
NYSE OMC opened at $68.96 on Friday. The company’s 50 day moving average is $68.22 and its 200-day moving average is $75.92. Omnicom Group Inc. has a 12-month low of $61.31 and a 12-month high of $91.61. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.59. The firm has a market cap of $14.19 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 4.25 and a beta of 0.82.
Omnicom Group (NYSE:OMC – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The business services provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Omnicom Group had a net margin of 9.07% and a return on equity of 38.26%. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 6.33 earnings per share for the current year.
Omnicom Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Wednesday, September 21st will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 20th. This represents a $2.80 annualized dividend and a yield of 4.06%. Omnicom Group’s dividend payout ratio is currently 45.83%.
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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