Omnicom Group Inc. (OMC) Stake Raised by River & Mercantile Asset Management LLP
River & Mercantile Asset Management LLP boosted its position in Omnicom Group Inc. (NYSE:OMC) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,950 shares of the business services provider’s stock after buying an additional 2,699 shares during the period. River & Mercantile Asset Management LLP’s holdings in Omnicom Group were worth $2,483,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in OMC. Parallel Advisors LLC increased its stake in Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock worth $102,000 after buying an additional 104 shares during the period. Dupont Capital Management Corp bought a new stake in Omnicom Group during the second quarter worth approximately $104,000. Invictus RG increased its stake in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock worth $170,000 after buying an additional 1,812 shares during the period. FNY Partners Fund LP increased its stake in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock worth $189,000 after buying an additional 700 shares during the period. Finally, Global X Management Co. LLC increased its stake in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock worth $194,000 after buying an additional 510 shares during the period. Institutional investors own 98.68% of the company’s stock.
Shares of Omnicom Group Inc. (OMC) opened at 73.19 on Tuesday. The company has a market cap of $16.89 billion, a P/E ratio of 14.78 and a beta of 1.25. The stock’s 50 day moving average is $79.00 and its 200-day moving average is $82.71. Omnicom Group Inc. has a 12 month low of $72.64 and a 12 month high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. On average, equities analysts forecast that Omnicom Group Inc. will post $5.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 3.01%. Omnicom Group’s payout ratio is currently 44.44%.
OMC has been the subject of a number of research analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a research report on Friday, July 14th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $79.00 target price (down previously from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Friday, July 14th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $84.00 target price on shares of Omnicom Group in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $86.00.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the transaction, the director now owns 7,724 shares in the company, valued at approximately $634,835.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Bruce Crawford sold 22,800 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the transaction, the chairman now owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,183 shares of company stock valued at $2,046,845. 1.10% of the stock is owned by 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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