Pennsylvania Trust Co boosted its holdings in Omnicom Group Inc. (NYSE:OMC) by 59.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,058 shares of the business services provider’s stock after purchasing an additional 32,882 shares during the quarter. Pennsylvania Trust Co’s holdings in Omnicom Group were worth $7,647,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Omnicom Group by 1,412,816.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,862,157 shares of the business services provider’s stock valued at $670,825,000 after buying an additional 9,861,459 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Omnicom Group by 3.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,130,443 shares of the business services provider’s stock valued at $76,894,000 after buying an additional 42,284 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Omnicom Group during the 3rd quarter valued at $541,000. JPMorgan Chase & Co. raised its position in shares of Omnicom Group by 219.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 807,640 shares of the business services provider’s stock valued at $54,936,000 after buying an additional 554,724 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Omnicom Group during the 3rd quarter valued at $361,000.
A number of brokerages recently commented on OMC. BMO Capital Markets lifted their target price on shares of Omnicom Group to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Friday, January 25th. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $76.00 to $84.00 in a research report on Wednesday. Citigroup lifted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Finally, Macquarie set a $76.00 target price on shares of Omnicom Group and gave the stock a “hold” rating in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Omnicom Group has a consensus rating of “Hold” and an average target price of $76.90.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.09. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.51 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 43.14%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. Research analysts expect that Omnicom Group Inc. will post 5.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Monday, March 11th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Friday, March 8th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.60. Omnicom Group’s dividend payout ratio (DPR) is 45.22%.
In other Omnicom Group news, Director Leonard S. Coleman, Jr. sold 2,556 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $75.25, for a total value of $192,339.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Linda Johnson Rice sold 495 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $74.79, for a total transaction of $37,021.05. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
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Omnicom Group Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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