KBC Group NV Buys 2,089 Shares of Omnicom Group Inc. (OMC)
KBC Group NV increased its stake in Omnicom Group Inc. (NYSE:OMC) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,097 shares of the business services provider’s stock after acquiring an additional 2,089 shares during the period. KBC Group NV’s holdings in Omnicom Group were worth $2,007,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in Omnicom Group by 0.3% in the third quarter. Swiss National Bank now owns 859,077 shares of the business services provider’s stock worth $63,632,000 after purchasing an additional 2,200 shares during the last quarter. Jensen Investment Management Inc. lifted its stake in Omnicom Group by 11.3% in the second quarter. Jensen Investment Management Inc. now owns 3,498,755 shares of the business services provider’s stock worth $290,047,000 after purchasing an additional 354,285 shares during the last quarter. Cambridge Trust Co. bought a new stake in Omnicom Group in the third quarter worth about $319,000. Chatham Capital Group Inc. lifted its stake in Omnicom Group by 2.7% in the second quarter. Chatham Capital Group Inc. now owns 111,375 shares of the business services provider’s stock worth $9,233,000 after purchasing an additional 2,965 shares during the last quarter. Finally, Homrich & Berg lifted its stake in Omnicom Group by 10.3% in the second quarter. Homrich & Berg now owns 8,160 shares of the business services provider’s stock worth $676,000 after purchasing an additional 762 shares during the last quarter. Institutional investors own 98.60% of the company’s stock.
OMC has been the subject of several analyst reports. Credit Suisse Group raised their price objective on shares of Omnicom Group from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Telsey Advisory Group raised shares of Omnicom Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $86.00 to $89.00 in a research note on Wednesday, October 18th. TheStreet downgraded shares of Omnicom Group from a “b-” rating to a “c+” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Friday, October 13th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research note on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $84.00.
In related news, Director Linda Johnson Rice sold 489 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $74.32, for a total value of $36,342.48. Following the completion of the transaction, the director now owns 7,777 shares of the company’s stock, valued at $577,986.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.
Omnicom Group Inc. (OMC) traded up $0.39 during trading on Monday, hitting $73.48. 3,271,900 shares of the stock traded hands, compared to its average volume of 1,943,353. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $89.66. The company has a market capitalization of $16,939.54, a P/E ratio of 14.78, a PEG ratio of 1.96 and a beta of 1.24.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. research analysts expect that Omnicom Group Inc. will post 5.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Tuesday, December 19th will be paid a $0.60 dividend. This is an increase from Omnicom Group’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, December 18th. This represents a $2.40 dividend on an annualized basis and a yield of 3.27%. Omnicom Group’s payout ratio is 43.82%.
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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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