Sentry Investments Corp. Acquires 159,400 Shares of Omnicom Group Inc. (OMC)
Sentry Investments Corp. raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 17.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,055,590 shares of the business services provider’s stock after buying an additional 159,400 shares during the period. Sentry Investments Corp. owned 0.46% of Omnicom Group worth $87,508,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of OMC. BlackRock Inc. boosted its position in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new position in shares of Omnicom Group during the second quarter valued at about $153,358,000. Morgan Stanley boosted its position in shares of Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after buying an additional 1,194,001 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Omnicom Group by 21.3% in the second quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock valued at $495,658,000 after buying an additional 1,049,746 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Omnicom Group by 769.0% in the first quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock valued at $60,415,000 after buying an additional 628,969 shares in the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE OMC) traded down 0.519% during trading on Thursday, reaching $71.935. The company’s stock had a trading volume of 508,699 shares. Omnicom Group Inc. has a one year low of $71.84 and a one year high of $89.66. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 14.526 and a beta of 1.25. The company has a 50-day moving average price of $79.00 and a 200-day moving average price of $82.71. Omnicom Group also was the target of unusually large options trading on Tuesday. Stock traders purchased 6,021 put options on the stock. This is an increase of 638% compared to the average daily volume of 816 put options.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 EPS. On average, equities research analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.20 annualized dividend and a dividend yield of 3.04%. Omnicom Group’s dividend payout ratio is currently 44.44%.
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Several research analysts have recently issued reports on OMC shares. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Friday, July 14th. BidaskClub cut shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada set a $96.00 target price on shares of Omnicom Group and gave the stock a “buy” rating in a report on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a report on Friday, July 14th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $79.00 target price (down previously from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Omnicom Group currently has a consensus rating of “Hold” and an average target price of $86.00.
In other news, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $79.11, for a total value of $71,199.00. Following the completion of the sale, the treasurer now directly owns 44,161 shares of the company’s stock, valued at approximately $3,493,576.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. Corporate 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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