United Fire Group Inc. Holds Position in Omnicom Group Inc. (NYSE:OMC)
United Fire Group Inc. maintained its stake in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, Holdings Channel reports. The fund owned 3,000 shares of the business services provider’s stock at the end of the second quarter. United Fire Group Inc.’s holdings in Omnicom Group were worth $249,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in OMC. Cleararc Capital Inc. boosted its stake in shares of Omnicom Group by 0.3% in the first quarter. Cleararc Capital Inc. now owns 5,744 shares of the business services provider’s stock valued at $495,000 after buying an additional 19 shares during the last quarter. RMB Capital Management LLC raised its position in Omnicom Group by 0.9% in the first quarter. RMB Capital Management LLC now owns 2,427 shares of the business services provider’s stock valued at $209,000 after buying an additional 21 shares during the period. MUFG Americas Holdings Corp raised its position in Omnicom Group by 0.3% in the first quarter. MUFG Americas Holdings Corp now owns 8,326 shares of the business services provider’s stock valued at $718,000 after buying an additional 26 shares during the period. Sawtooth Solutions LLC raised its position in Omnicom Group by 0.4% in the first quarter. Sawtooth Solutions LLC now owns 8,961 shares of the business services provider’s stock valued at $773,000 after buying an additional 33 shares during the period. Finally, Howard Capital Management raised its position in Omnicom Group by 1.2% in the first quarter. Howard Capital Management now owns 3,452 shares of the business services provider’s stock valued at $298,000 after buying an additional 40 shares during the period. 98.68% of the stock is currently owned by hedge funds and other institutional investors.
Omnicom Group Inc. (OMC) opened at 77.93 on Friday. Omnicom Group Inc. has a one year low of $77.50 and a one year high of $89.66. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 15.74 and a beta of 1.25. The company has a 50-day moving average of $80.89 and a 200 day moving average of $83.46.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 EPS. On average, analysts anticipate that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is presently 44.44%.
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Several equities analysts have weighed in on the stock. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a research report on Saturday, May 20th. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Friday, July 14th. Barclays PLC restated a “hold” rating and set a $86.00 price target on shares of Omnicom Group in a report on Thursday, April 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Finally, Wells Fargo & Company reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Omnicom Group in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $86.00.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bruce Crawford sold 22,800 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly owns 105,250 shares in the company, valued at $8,936,777.50. The disclosure for this sale can be found here. Insiders have sold a total of 24,183 shares of company stock worth $2,046,845 over the last ninety days. 1.10% of the stock is currently 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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