Evanston Investments Inc. dba Evanston Advisors boosted its position in Omnicom Group Inc. (NYSE:OMC) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,527 shares of the business services provider’s stock after buying an additional 5,343 shares during the quarter. Evanston Investments Inc. dba Evanston Advisors’ holdings in Omnicom Group were worth $7,076,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of OMC. Creative Planning lifted its holdings in Omnicom Group by 5.5% during the 2nd quarter. Creative Planning now owns 4,689 shares of the business services provider’s stock valued at $389,000 after purchasing an additional 243 shares during the last quarter. Russell Investments Group Ltd. increased its position in Omnicom Group by 65.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 510,557 shares of the business services provider’s stock valued at $42,334,000 after acquiring an additional 201,225 shares in the last quarter. Acadian Asset Management LLC increased its position in Omnicom Group by 9,779.9% in the 2nd quarter. Acadian Asset Management LLC now owns 52,166 shares of the business services provider’s stock valued at $4,325,000 after acquiring an additional 51,638 shares in the last quarter. Shell Asset Management Co. increased its position in Omnicom Group by 2.4% in the 2nd quarter. Shell Asset Management Co. now owns 18,604 shares of the business services provider’s stock valued at $1,542,000 after acquiring an additional 442 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Omnicom Group by 70.9% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 32,829 shares of the business services provider’s stock worth $2,721,000 after buying an additional 13,623 shares during the period. 98.60% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Linda Johnson Rice sold 489 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $74.32, for a total transaction of $36,342.48. Following the completion of the sale, the director now owns 7,777 shares of the company’s stock, valued at approximately $577,986.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.
Omnicom Group Inc. (NYSE:OMC) traded up $0.61 during mid-day trading on Wednesday, hitting $75.31. 3,735,500 shares of the company traded hands, compared to its average volume of 1,930,229. Omnicom Group Inc. has a fifty-two week low of $65.32 and a fifty-two week high of $89.66. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.90 and a quick ratio of 0.79. The firm has a market capitalization of $17,220.79, a P/E ratio of 15.03, a PEG ratio of 2.02 and a beta of 1.24.
Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 17th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. equities research analysts anticipate that Omnicom Group Inc. will post 5.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Tuesday, December 19th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Monday, December 18th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.55. Omnicom Group’s dividend payout ratio (DPR) is 43.82%.
Several equities research analysts have recently commented on the stock. TheStreet cut shares of Omnicom Group from a “b-” rating to a “c+” rating in a report on Tuesday, November 21st. Argus raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Credit Suisse Group lifted their price target on shares of Omnicom Group from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Royal Bank Of Canada cut their price objective on shares of Omnicom Group from $96.00 to $87.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.00.
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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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