First Merchants Corp decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 28.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 31,821 shares of the business services provider’s stock after selling 12,577 shares during the period. First Merchants Corp’s holdings in Omnicom Group were worth $2,638,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in OMC. Stifel Financial Corp boosted its stake in shares of Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock valued at $3,613,000 after buying an additional 2,291 shares during the last quarter. Morgan Stanley boosted 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 valued at $141,325,000 after buying an additional 1,194,001 shares during the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in shares of Omnicom Group during the second quarter valued at approximately $153,358,000. Geode Capital Management LLC boosted its stake in shares of Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock valued at $211,836,000 after buying an additional 175,835 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in shares of Omnicom Group during the fourth quarter valued at approximately $1,457,000. Institutional investors own 98.02% of the company’s stock.
Omnicom Group Inc. (NYSE OMC) opened at 76.76 on Friday. Omnicom Group Inc. has a 1-year low of $76.74 and a 1-year high of $89.66. The firm has a 50-day moving average price of $80.03 and a 200 day moving average price of $83.10. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of 15.50 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.02. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. Equities analysts predict that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is 44.44%.
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Several equities analysts have recently issued reports on the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research note on Friday, July 14th. Wells Fargo & Company reaffirmed a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a research note on Tuesday, July 18th. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub lowered Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada set a $96.00 price target on Omnicom Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $86.00.
In related news, Chairman Bruce Crawford sold 22,800 shares of the company’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 transaction, the chairman now directly owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was 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 in the company, valued at $634,835.56. The disclosure for this sale can be found here. Insiders sold a total of 24,183 shares of company stock worth $2,046,845 over the last three months. 1.10% of the stock is owned by company insiders.
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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