Rhumbline Advisers Raises Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Rhumbline Advisers lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMCGet Rating) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,083 shares of the business services provider’s stock after purchasing an additional 4,547 shares during the quarter. Rhumbline Advisers owned 0.17% of Omnicom Group worth $27,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Olstein Capital Management L.P. grew its holdings in shares of Omnicom Group by 13.6% during the third quarter. Olstein Capital Management L.P. now owns 159,000 shares of the business services provider’s stock worth $11,521,000 after purchasing an additional 19,000 shares in the last quarter. MD Financial Management Inc. boosted its stake in Omnicom Group by 96,338.6% in the third quarter. MD Financial Management Inc. now owns 139,836 shares of the business services provider’s stock worth $10,133,000 after buying an additional 139,691 shares in the last quarter. State of Michigan Retirement System boosted its stake in Omnicom Group by 4.4% in the fourth quarter. State of Michigan Retirement System now owns 58,263 shares of the business services provider’s stock worth $4,269,000 after buying an additional 2,460 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Omnicom Group by 50.2% in the third quarter. Goldman Sachs Group Inc. now owns 4,162,139 shares of the business services provider’s stock worth $301,589,000 after buying an additional 1,390,259 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in Omnicom Group by 1.1% in the fourth quarter. TD Asset Management Inc. now owns 462,339 shares of the business services provider’s stock worth $33,876,000 after buying an additional 4,913 shares in the last quarter. 93.08% of the stock is owned by institutional investors.

Several brokerages have issued reports on OMC. Bank of America upped their target price on Omnicom Group from $67.00 to $77.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 9th. Wolfe Research upped their target price on Omnicom Group from $81.00 to $85.00 and gave the stock a “peer perform” rating in a research note on Wednesday, February 9th. Morgan Stanley upped their target price on Omnicom Group from $78.00 to $84.00 and gave the stock an “underweight” rating in a research note on Thursday, February 10th. BMO Capital Markets boosted their price objective on Omnicom Group from $82.00 to $89.00 in a research report on Thursday, April 21st. Finally, Macquarie boosted their price objective on Omnicom Group from $85.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, February 10th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.80.

In other Omnicom Group news, Director Linda Johnson Rice sold 1,900 shares of the firm’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $77.88, for a total value of $147,972.00. Following the transaction, the director now directly owns 9,784 shares of the company’s stock, valued at $761,977.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Omnicom Group stock opened at $77.00 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.94 and a quick ratio of 0.85. Omnicom Group Inc. has a one year low of $65.76 and a one year high of $91.61. The stock has a market capitalization of $15.84 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. The business’s fifty day moving average is $80.20 and its 200 day moving average is $76.76.

Omnicom Group (NYSE:OMCGet Rating) last released its quarterly earnings data on Tuesday, April 19th. The business services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.28 by $0.11. Omnicom Group had a return on equity of 37.06% and a net margin of 9.06%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the firm posted $1.33 earnings per share. Omnicom Group’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Omnicom Group Inc. will post 6.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 10th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $2.80 annualized dividend and a yield of 3.64%. Omnicom Group’s payout ratio is 46.43%.

Omnicom Group Company Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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