Zurich Insurance Group Ltd FI Sells 10,980 Shares of Omnicom Group Inc. (OMC)
Zurich Insurance Group Ltd FI lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 17.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 51,704 shares of the business services provider’s stock after selling 10,980 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Omnicom Group were worth $4,286,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in OMC. Cleararc Capital Inc. increased its holdings in shares of Omnicom Group by 0.3% in the 1st quarter. Cleararc Capital Inc. now owns 5,744 shares of the business services provider’s stock worth $495,000 after acquiring an additional 19 shares during the period. RMB Capital Management LLC boosted its stake in Omnicom Group by 0.9% during the 1st quarter. RMB Capital Management LLC now owns 2,427 shares of the business services provider’s stock valued at $209,000 after purchasing an additional 21 shares during the period. Pennsylvania Trust Co boosted its stake in Omnicom Group by 1.1% during the 2nd quarter. Pennsylvania Trust Co now owns 4,596 shares of the business services provider’s stock valued at $381,000 after purchasing an additional 50 shares during the period. Financial Counselors Inc. boosted its stake in Omnicom Group by 1.5% during the 2nd quarter. Financial Counselors Inc. now owns 3,728 shares of the business services provider’s stock valued at $309,000 after purchasing an additional 54 shares during the period. Finally, WMS Partners LLC boosted its stake in Omnicom Group by 1.2% during the 2nd quarter. WMS Partners LLC now owns 4,650 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 98.60% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE OMC) traded down 0.28% during trading on Tuesday, hitting $75.33. The stock had a trading volume of 177,476 shares. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 15.21 and a beta of 1.28. The stock’s 50 day moving average is $74.34 and its 200 day moving average is $80.56. Omnicom Group Inc. has a 52 week low of $71.63 and a 52 week high of $89.66.
Omnicom Group (NYSE:OMC) last issued its 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. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the firm earned $1.36 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is 44.44%.
OMC has been the subject of several recent analyst reports. Zacks Investment Research upgraded 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. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a report on Friday, July 14th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a research report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Omnicom Group presently has an average rating of “Hold” and a consensus target price of $85.92.
In other Omnicom Group news, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $82.19, for a total value of $39,697.77. Following the transaction, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of the firm’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 completion of the transaction, the treasurer now directly owns 44,161 shares in the company, valued at $3,493,576.71. The disclosure for this sale can be found here. 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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