RNC Capital Management LLC Takes $27.72 Million Position in Omnicom Group Inc. (OMC)
RNC Capital Management LLC purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 380,616 shares of the business services provider’s stock, valued at approximately $27,720,000. Omnicom Group makes up approximately 1.9% of RNC Capital Management LLC’s investment portfolio, making the stock its 29th largest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of OMC. Franklin Resources Inc. raised its holdings in Omnicom Group by 0.5% during the second quarter. Franklin Resources Inc. now owns 239,347 shares of the business services provider’s stock worth $19,842,000 after purchasing an additional 1,161 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Omnicom Group by 1.0% during the second quarter. Ameriprise Financial Inc. now owns 486,110 shares of the business services provider’s stock worth $40,313,000 after purchasing an additional 4,607 shares in the last quarter. Profund Advisors LLC raised its holdings in Omnicom Group by 21.5% during the second quarter. Profund Advisors LLC now owns 8,221 shares of the business services provider’s stock worth $682,000 after purchasing an additional 1,457 shares in the last quarter. ProShare Advisors LLC raised its holdings in Omnicom Group by 53.6% during the second quarter. ProShare Advisors LLC now owns 47,574 shares of the business services provider’s stock worth $3,944,000 after purchasing an additional 16,604 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in Omnicom Group by 2.1% during the second quarter. Thrivent Financial For Lutherans now owns 8,820 shares of the business services provider’s stock worth $731,000 after purchasing an additional 180 shares in the last quarter.
Several research analysts recently issued reports on OMC shares. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Friday, October 13th. Argus raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. TheStreet cut shares of Omnicom Group from a “b-” rating to a “c+” rating in a report on Tuesday, November 21st. Jefferies Group reissued a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a report on Thursday, September 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a report on Wednesday, October 18th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Omnicom Group currently has a consensus rating of “Hold” and an average price target of $84.36.
Omnicom Group Inc. (NYSE OMC) opened at $74.32 on Wednesday. Omnicom Group Inc. has a 1-year low of $65.32 and a 1-year high of $87.43. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.90 and a quick ratio of 0.79. The stock has a market cap of $17,502.04, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23.
Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. equities research analysts anticipate that Omnicom Group Inc. will post 5.11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 19th were issued a $0.60 dividend. The ex-dividend date was Monday, December 18th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 3.23%. Omnicom Group’s dividend payout ratio (DPR) is 47.81%.
Omnicom Group 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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