Midas Management Corp maintained its stake in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,625 shares of the business services provider’s stock at the end of the second quarter. Midas Management Corp’s holdings in Omnicom Group were worth $1,129,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. BlackRock Inc. raised its stake 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 worth $1,469,108,000 after buying an additional 16,507,161 shares during the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in shares of Omnicom Group during the second quarter worth approximately $153,358,000. Morgan Stanley raised its stake 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 worth $141,325,000 after buying an additional 1,194,001 shares during the last quarter. WINTON GROUP Ltd raised its stake 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 worth $60,415,000 after buying an additional 628,969 shares during the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Omnicom Group during the first quarter worth approximately $47,259,000. Hedge funds and other institutional investors own 98.68% of the company’s stock.
Omnicom Group Inc. (NYSE OMC) traded down 0.23% during trading on Friday, reaching $77.75. The company’s stock had a trading volume of 1,020,568 shares. The company’s 50 day moving average price is $80.76 and its 200-day moving average price is $83.41. Omnicom Group Inc. has a 1-year low of $77.50 and a 1-year high of $89.66. The stock has a market cap of $17.94 billion, a P/E ratio of 15.70 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the business posted $1.36 EPS. Omnicom Group’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts forecast that Omnicom Group Inc. will post $5.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders 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 yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s payout ratio is presently 44.44%.
Several equities research analysts have recently issued reports on OMC shares. Evercore ISI began coverage on Omnicom Group in a report on Monday, April 17th. They set an “in-line” rating and a $91.00 price target for the company. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research note on Friday, July 14th. Wedbush dropped their price target on Omnicom Group from $90.00 to $89.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $79.00 price target (down from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Finally, Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $86.00.
In other news, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the transaction, the director now directly owns 7,724 shares of the company’s stock, valued at approximately $634,835.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 900 shares of Omnicom Group 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 transaction, the treasurer now directly owns 44,161 shares of the company’s stock, valued at $3,493,576.71. 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. Company insiders own 1.10% of the company’s stock.
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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