LSV Asset Management Buys 3,500 Shares of Omnicom Group Inc. (OMC)
LSV Asset Management increased its stake in Omnicom Group Inc. (NYSE:OMC) by 350.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,500 shares of the company’s stock after buying an additional 3,500 shares during the period. LSV Asset Management’s holdings in Omnicom Group were worth $366,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Omnicom Group by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,029,274 shares of the company’s stock valued at $168,569,000 after buying an additional 103,737 shares during the last quarter. BlackRock Group LTD increased its position in Omnicom Group by 3.7% in the first quarter. BlackRock Group LTD now owns 1,937,218 shares of the company’s stock valued at $161,233,000 after buying an additional 69,949 shares during the last quarter. Glenmede Trust Co. NA increased its position in Omnicom Group by 1.9% in the second quarter. Glenmede Trust Co. NA now owns 1,791,674 shares of the company’s stock valued at $146,002,000 after buying an additional 34,044 shares during the last quarter. Thomaspartners Inc. increased its position in Omnicom Group by 1.8% in the first quarter. Thomaspartners Inc. now owns 1,672,711 shares of the company’s stock valued at $139,220,000 after buying an additional 30,109 shares during the last quarter. Finally, AGF Investments Inc. increased its position in Omnicom Group by 11.4% in the second quarter. AGF Investments Inc. now owns 1,661,523 shares of the company’s stock valued at $135,364,000 after buying an additional 170,395 shares during the last quarter. 96.82% of the stock is owned by institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 0.77% on Friday, hitting $83.96. The company’s stock had a trading volume of 1,132,975 shares. The stock’s 50 day moving average price is $84.03 and its 200 day moving average price is $82.78. The stock has a market capitalization of $19.86 billion, a P/E ratio of 18.36 and a beta of 1.33. Omnicom Group Inc. has a 52 week low of $64.12 and a 52 week high of $87.50.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 14th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The company earned $3.88 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Omnicom Group Inc. will post $4.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.62%. Omnicom Group’s dividend payout ratio (DPR) is presently 48.04%.
OMC has been the subject of several recent research reports. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Albert Fried & Company reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 14th. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Omnicom Group in a research report on Sunday, July 17th. Credit Suisse Group AG started coverage on Omnicom Group in a research report on Thursday. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Telsey Advisory Group lifted their price objective on Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, July 20th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus 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 business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the sale, the director now directly owns 30,440 shares of the company’s stock, valued at approximately $2,573,702. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.
About Omnicom Group
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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