HL Financial Services LLC Boosts Stake in Omnicom Group Inc. (OMC)
HL Financial Services LLC raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 1,054,609 shares of the company’s stock after buying an additional 26,592 shares during the period. Omnicom Group comprises 2.0% of HL Financial Services LLC’s investment portfolio, making the stock its 14th largest position. HL Financial Services LLC’s holdings in Omnicom Group were worth $85,940,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Manhattan Co. increased its position in shares of Omnicom Group by 0.4% in the first quarter. First Manhattan Co. now owns 911,102 shares of the company’s stock worth $75,831,000 after buying an additional 3,805 shares in the last quarter. Lodestar Investment Counsel LLC IL increased its position in shares of Omnicom Group by 2.5% in the first quarter. Lodestar Investment Counsel LLC IL now owns 185,593 shares of the company’s stock worth $15,447,000 after buying an additional 4,446 shares in the last quarter. Legacy Private Trust Co. increased its position in shares of Omnicom Group by 131.8% in the first quarter. Legacy Private Trust Co. now owns 45,250 shares of the company’s stock worth $3,766,000 after buying an additional 25,730 shares in the last quarter. HHG & Company LLC increased its position in shares of Omnicom Group by 3.4% in the first quarter. HHG & Company LLC now owns 25,034 shares of the company’s stock worth $2,084,000 after buying an additional 829 shares in the last quarter. Finally, Ronna Sue Cohen increased its position in shares of Omnicom Group by 0.9% in the first quarter. Ronna Sue Cohen now owns 42,700 shares of the company’s stock worth $3,554,000 after buying an additional 363 shares in the last quarter. 96.82% of the stock is owned by institutional investors and hedge funds.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 0.71% during trading on Tuesday, reaching $84.05. 1,200,159 shares of the company’s stock traded hands. Omnicom Group Inc. has a 1-year low of $64.12 and a 1-year high of $87.50. The company has a market capitalization of $19.88 billion, a price-to-earnings ratio of 18.38 and a beta of 1.33. The company has a 50 day moving average of $84.24 and a 200-day moving average of $82.99.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, July 14th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.03. Omnicom Group had a net margin of 7.26% and a return on equity of 38.56%. The company earned $3.88 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company earned $1.26 earnings per share. Omnicom Group’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts predict that Omnicom Group Inc. will post $4.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 22nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is 48.04%.
A number of research analysts recently issued reports on OMC shares. Zacks Investment Research downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Albert Fried & Company reiterated a “hold” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 14th. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a research note on Sunday, July 17th. Telsey Advisory Group lifted their price target on shares of Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 20th. Finally, Credit Suisse Group AG started coverage on shares of Omnicom Group in a research note on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target for the company. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and a consensus price target of $81.00.
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the sale, the director now owns 30,440 shares of the company’s stock, valued at $2,573,702. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Omnicom Group Company 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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