Laffer Investments held its position in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,700 shares of the business services provider’s stock at the close of the second quarter. Laffer Investments’ holdings in Omnicom Group were worth $1,799,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Omnicom Group by 3,091.8% during the 1st quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares during the period. Vanguard Group Inc. boosted its position in Omnicom Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 15,866,652 shares of the business services provider’s stock valued at $1,367,864,000 after buying an additional 116,893 shares during the period. First Eagle Investment Management LLC boosted its position in Omnicom Group by 2.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,429,677 shares of the business services provider’s stock valued at $1,113,320,000 after buying an additional 341,406 shares during the period. State Street Corp boosted its position in Omnicom Group by 1.2% during the 1st quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock valued at $850,497,000 after buying an additional 121,470 shares during the period. Finally, Pzena Investment Management LLC boosted its position in Omnicom Group by 21.3% during the 2nd quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock valued at $495,658,000 after buying an additional 1,049,746 shares during the period. 98.60% of the stock is currently owned by institutional investors.
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OMC has been the subject of several analyst reports. Royal Bank Of Canada set a $96.00 price target on shares of Omnicom Group and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Wells Fargo & Company reissued a “hold” rating and set a $84.00 price target on shares of Omnicom Group in a research report on Tuesday, July 18th. Credit Suisse Group reissued a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Zacks Investment Research raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Citigroup Inc. raised shares of Omnicom Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and an average target price of $85.92.
In other news, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Dennis E. Hewitt sold 900 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the sale, 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. 1.10% of the stock is currently owned by insiders.
Omnicom Group Inc. (NYSE:OMC) traded up 0.78% during midday trading on Wednesday, hitting $73.32. 331,372 shares of the stock traded hands. Omnicom Group Inc. has a 52-week low of $71.63 and a 52-week high of $89.66. The firm’s 50-day moving average is $75.34 and its 200-day moving average is $81.20. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 14.81 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last issued its earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. The firm 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 business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 earnings per share. Analysts predict that Omnicom Group Inc. will post $5.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Thursday, September 21st. Omnicom Group’s dividend payout ratio is currently 44.44%.
Omnicom Group 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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