Squar Milner Financial Services LLC bought a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, Holdings Channel.com reports. The institutional investor bought 736 shares of the business services provider’s stock, valued at approximately $60,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of OMC. Dimensional Fund Advisors LP grew its stake in Omnicom Group by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,233,581 shares of the business services provider’s stock valued at $90,344,000 after acquiring an additional 103,138 shares in the last quarter. Geode Capital Management LLC grew its stake in Omnicom Group by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 3,852,265 shares of the business services provider’s stock valued at $281,767,000 after acquiring an additional 597,017 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Omnicom Group by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,934 shares of the business services provider’s stock valued at $728,000 after acquiring an additional 175 shares in the last quarter. American Century Companies Inc. grew its stake in Omnicom Group by 20.5% during the fourth quarter. American Century Companies Inc. now owns 8,856 shares of the business services provider’s stock valued at $649,000 after acquiring an additional 1,504 shares in the last quarter. Finally, Legacy Advisors LLC purchased a new position in Omnicom Group during the first quarter valued at $55,000.
Several research firms recently weighed in on OMC. Barclays reaffirmed a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a research note on Sunday, July 21st. BMO Capital Markets cut shares of Omnicom Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $88.00 to $86.00 in a research note on Sunday, July 14th. Finally, ValuEngine cut shares of Omnicom Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Omnicom Group has an average rating of “Hold” and a consensus price target of $80.33.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, July 17th. The business services provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.07. Omnicom Group had a net margin of 8.89% and a return on equity of 43.86%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company posted $1.60 EPS. The business’s revenue was down 3.6% on a year-over-year basis. Equities research analysts predict that Omnicom Group Inc. will post 6.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 20th will be paid a $0.65 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.42%. Omnicom Group’s payout ratio is currently 45.22%.
In other news, SVP Andrew Castellaneta sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $80.16, for a total value of $160,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John Wren sold 60,541 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total transaction of $4,833,593.44. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Omnicom Group Profile
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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