OppenheimerFunds Inc. decreased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 43.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,843 shares of the business services provider’s stock after selling 13,696 shares during the quarter. OppenheimerFunds Inc.’s holdings in Omnicom Group were worth $1,297,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Weatherstone Capital Management increased its holdings in Omnicom Group by 17.1% during the 1st quarter. Weatherstone Capital Management now owns 4,792 shares of the business services provider’s stock worth $348,000 after purchasing an additional 699 shares during the period. Albert D Mason Inc. increased its holdings in Omnicom Group by 2.0% during the 1st quarter. Albert D Mason Inc. now owns 36,282 shares of the business services provider’s stock worth $2,637,000 after purchasing an additional 710 shares during the period. IFM Investors Pty Ltd increased its holdings in Omnicom Group by 10.8% during the 1st quarter. IFM Investors Pty Ltd now owns 7,353 shares of the business services provider’s stock worth $534,000 after purchasing an additional 719 shares during the period. Scotia Capital Inc. increased its holdings in Omnicom Group by 5.3% during the 4th quarter. Scotia Capital Inc. now owns 15,287 shares of the business services provider’s stock worth $1,113,000 after purchasing an additional 775 shares during the period. Finally, MUFG Americas Holdings Corp increased its holdings in Omnicom Group by 123.8% during the 4th quarter. MUFG Americas Holdings Corp now owns 1,531 shares of the business services provider’s stock worth $112,000 after purchasing an additional 847 shares during the period.
Several equities research analysts have weighed in on OMC shares. Atlantic Securities upgraded Omnicom Group from an “underweight” rating to a “neutral” rating in a report on Friday, March 2nd. Barclays set a $84.00 price target on Omnicom Group and gave the stock a “hold” rating in a report on Wednesday, April 18th. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Tuesday, March 20th. Pivotal Research cut their price target on Omnicom Group from $75.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, April 3rd. Finally, Morgan Stanley lowered their price objective on Omnicom Group from $76.00 to $73.00 and set an “underweight” rating for the company in a research report on Wednesday, May 23rd. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $79.58.
Omnicom Group opened at $75.07 on Wednesday, MarketBeat Ratings reports. The stock has a market cap of $17.17 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 2.32 and a beta of 1.14. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $83.95. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.52.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 17th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.08. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Omnicom Group had a return on equity of 39.97% and a net margin of 7.25%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 EPS. research analysts forecast that Omnicom Group Inc. will post 5.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 12th. Investors of record on Thursday, June 14th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, June 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.20%. Omnicom Group’s dividend payout ratio (DPR) is presently 47.06%.
In related news, Director Linda Johnson Rice sold 499 shares of the company’s stock in a transaction dated Thursday, April 19th. The stock was sold at an average price of $75.31, for a total value of $37,579.69. Following the completion of the sale, the director now directly owns 7,900 shares of the company’s stock, valued at approximately $594,949. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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