Tokio Marine Asset Management Co. Ltd. reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 28.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,544 shares of the business services provider’s stock after selling 988 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Omnicom Group were worth $211,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Cribstone Capital Management LLC acquired a new position in Omnicom Group during the first quarter valued at approximately $164,000. Invictus RG increased its position in Omnicom Group by 1,098.2% in the first quarter. Invictus RG now owns 1,977 shares of the business services provider’s stock valued at $170,000 after buying an additional 1,812 shares during the period. FNY Partners Fund LP increased its position in Omnicom Group by 46.7% in the first quarter. FNY Partners Fund LP now owns 2,200 shares of the business services provider’s stock valued at $189,000 after buying an additional 700 shares during the period. Global X Management Co. LLC increased its position in Omnicom Group by 29.4% in the first quarter. Global X Management Co. LLC now owns 2,245 shares of the business services provider’s stock valued at $194,000 after buying an additional 510 shares during the period. Finally, Huntington Steele LLC acquired a new position in Omnicom Group during the first quarter valued at approximately $202,000. 98.02% of the stock is currently owned by institutional investors.
Omnicom Group Inc. (NYSE:OMC) traded down 1.15% during trading on Friday, reaching $76.76. 1,402,601 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $80.03 and a 200 day moving average price of $83.10. The stock has a market capitalization of $17.71 billion, a P/E ratio of 15.50 and a beta of 1.25. Omnicom Group Inc. has a 1-year low of $76.74 and a 1-year high of $89.66.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.36 EPS. Equities research analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The business also recently disclosed 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 2.87%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
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Several research firms have commented on OMC. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and issued a $82.00 price target on shares of Omnicom Group in a research note on Friday, July 14th. Macquarie downgraded shares of Omnicom Group from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $83.00 in a research note on Tuesday, June 6th. BidaskClub downgraded shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $86.00.
In other Omnicom Group news, Chairman Bruce Crawford sold 22,800 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the completion of the transaction, the chairman now directly owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 483 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 24,183 shares of company stock valued at $2,046,845. 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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