National Pension Service Decreases Stake in Omnicom Group Inc. $OMC
by Danessa Lincoln · The Markets DailyNational Pension Service lowered its position in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 54.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 434,979 shares of the business services provider’s stock after selling 525,504 shares during the quarter. National Pension Service’s holdings in Omnicom Group were worth $31,680,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Keating Financial Advisory Services Inc. bought a new stake in Omnicom Group during the second quarter worth $25,000. Elyxium Wealth LLC bought a new position in Omnicom Group in the 4th quarter valued at $26,000. EFG International AG purchased a new stake in shares of Omnicom Group during the 4th quarter valued at $28,000. Caitlin John LLC raised its stake in shares of Omnicom Group by 4,675.0% during the 4th quarter. Caitlin John LLC now owns 382 shares of the business services provider’s stock worth $31,000 after purchasing an additional 374 shares during the period. Finally, Wealth Watch Advisors INC bought a new stake in shares of Omnicom Group during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Omnicom Group Stock Down 0.6%
Shares of NYSE OMC opened at $79.00 on Friday. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The business’s fifty day moving average price is $83.24 and its 200-day moving average price is $78.90. The stock has a market capitalization of $21.67 billion, a PE ratio of 68.10, a P/E/G ratio of 0.68 and a beta of 0.65.
Omnicom Group (NYSE:OMC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period last year, the business posted $2.05 EPS. The company’s revenue was up 63.4% compared to the same quarter last year. On average, equities research analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current year.
Omnicom Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 annualized dividend and a dividend yield of 4.1%. Omnicom Group’s dividend payout ratio (DPR) is presently 275.86%.
Insider Activity
In related news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
OMC has been the subject of several research reports. Citigroup reduced their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and a consensus target price of $99.00.
Get Our Latest Stock Report on OMC
Omnicom Group Company Profile
Omnicom Group Inc (NYSE: OMC) is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.
Omnicom’s agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.
Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.
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