Occidental Asset Management LLC increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 40.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,239 shares of the business services provider’s stock after purchasing an additional 2,361 shares during the period. Occidental Asset Management LLC’s holdings in Omnicom Group were worth $675,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in OMC. Marino Stram & Associates LLC bought a new position in Omnicom Group during the first quarter valued at $30,000. Ashburton Jersey Ltd bought a new position in Omnicom Group during the second quarter valued at $31,000. Cornerstone Advisors Inc. increased its position in Omnicom Group by 117.0% during the second quarter. Cornerstone Advisors Inc. now owns 408 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 220 shares during the last quarter. Trustcore Financial Services LLC increased its position in Omnicom Group by 218.1% during the second quarter. Trustcore Financial Services LLC now owns 404 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 277 shares during the last quarter. Finally, Coastal Investment Advisors Inc. bought a new position in Omnicom Group during the second quarter valued at $33,000.
In related news, Chairman John Wren sold 60,541 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $79.84, for a total value of $4,833,593.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew Castellaneta sold 2,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $80.16, for a total transaction of $160,320.00. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of research analysts have weighed in on OMC shares. ValuEngine cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BMO Capital Markets cut shares of Omnicom Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $88.00 to $86.00 in a research report on Sunday, July 14th. Finally, Barclays reiterated a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a research report on Sunday, July 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $80.33.
Shares of NYSE OMC traded down $0.21 during mid-day trading on Thursday, reaching $75.77. The company had a trading volume of 67,084 shares, compared to its average volume of 1,888,273. The stock’s 50-day moving average price is $81.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.76 and a current ratio of 0.85. The firm has a market cap of $16.94 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 2.54 and a beta of 0.71. Omnicom Group Inc. has a 52 week low of $65.85 and a 52 week high of $85.05.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Wednesday, July 17th. The business services provider reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.07. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Omnicom Group had a net margin of 8.89% and a return on equity of 43.86%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 earnings per share. As a group, sell-side analysts predict that Omnicom Group Inc. will post 6.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 20th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, September 19th. Omnicom Group’s payout ratio is presently 45.22%.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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