Advisor Group Inc. lifted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 150.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,649 shares of the business services provider’s stock after acquiring an additional 30,458 shares during the quarter. Advisor Group Inc.’s holdings in Omnicom Group were worth $3,689,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Scotia Capital Inc. increased its position in shares of Omnicom Group by 5.3% during the fourth quarter. Scotia Capital Inc. now owns 15,287 shares of the business services provider’s stock valued at $1,113,000 after acquiring an additional 775 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Omnicom Group by 1.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,420 shares of the business services provider’s stock worth $3,735,000 after buying an additional 804 shares during the last quarter. Creative Planning increased its position in Omnicom Group by 17.4% in the fourth quarter. Creative Planning now owns 5,513 shares of the business services provider’s stock worth $402,000 after buying an additional 817 shares during the last quarter. Union Bankshares Corp increased its position in Omnicom Group by 2.9% in the fourth quarter. Union Bankshares Corp now owns 29,208 shares of the business services provider’s stock worth $2,127,000 after buying an additional 830 shares during the last quarter. Finally, MUFG Americas Holdings Corp increased its position in Omnicom Group by 123.8% in the fourth quarter. MUFG Americas Holdings Corp now owns 1,531 shares of the business services provider’s stock worth $112,000 after buying an additional 847 shares during the last quarter. 98.62% of the stock is owned by institutional investors.
In other news, Treasurer Dennis E. Hewitt sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $77.38, for a total value of $154,760.00. Following the completion of the transaction, the treasurer now directly owns 42,561 shares of the company’s stock, valued at $3,293,370.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.01. Omnicom Group had a return on equity of 40.67% and a net margin of 7.12%. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company earned $1.47 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. research analysts anticipate that Omnicom Group Inc. will post 5.6 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Friday, March 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, March 8th. Omnicom Group’s payout ratio is currently 46.97%.
A number of analysts have issued reports on OMC shares. Atlantic Securities raised Omnicom Group from an “underweight” rating to a “neutral” rating in a research report on Friday, March 2nd. Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Macquarie downgraded Omnicom Group from a “neutral” rating to an “underperform” rating and set a $83.00 target price for the company. in a research report on Tuesday, January 2nd. Bank of America downgraded Omnicom Group from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada downgraded Omnicom Group from an “outperform” rating to a “sector perform” rating and set a $83.00 target price for the company. in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Omnicom Group has an average rating of “Hold” and an average target price of $82.77.
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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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