Kestra Advisory Services LLC decreased its position in Omnicom Group Inc. (NYSE:OMC – Get Rating) by 27.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,853 shares of the business services provider’s stock after selling 2,966 shares during the quarter. Kestra Advisory Services LLC’s holdings in Omnicom Group were worth $667,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Omnicom Group in the fourth quarter worth about $100,916,000. Lazard Asset Management LLC raised its stake in shares of Omnicom Group by 37.4% in the fourth quarter. Lazard Asset Management LLC now owns 2,172,548 shares of the business services provider’s stock worth $159,181,000 after buying an additional 591,257 shares during the period. Brown Advisory Inc. raised its stake in shares of Omnicom Group by 132.8% in the fourth quarter. Brown Advisory Inc. now owns 1,001,350 shares of the business services provider’s stock worth $73,369,000 after buying an additional 571,289 shares during the period. Marshall Wace LLP raised its stake in shares of Omnicom Group by 173.9% in the fourth quarter. Marshall Wace LLP now owns 835,595 shares of the business services provider’s stock worth $61,224,000 after buying an additional 530,470 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Omnicom Group by 24.0% in the fourth quarter. Schroder Investment Management Group now owns 2,606,198 shares of the business services provider’s stock worth $190,956,000 after buying an additional 504,221 shares during the period. Institutional investors own 93.08% of the company’s stock.
Analysts Set New Price Targets
OMC has been the topic of several recent research reports. BMO Capital Markets raised their price objective on Omnicom Group from $82.00 to $89.00 in a research note on Thursday, April 21st. JPMorgan Chase & Co. decreased their target price on Omnicom Group from $96.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Macquarie downgraded Omnicom Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 23rd. Edward Jones downgraded Omnicom Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Finally, Morgan Stanley decreased their target price on Omnicom Group from $84.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, June 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Omnicom Group has an average rating of “Hold” and an average target price of $84.70.
Omnicom Group Stock Performance
NYSE OMC opened at $67.41 on Wednesday. The stock has a market capitalization of $13.87 billion, a PE ratio of 11.18, a P/E/G ratio of 3.94 and a beta of 0.82. The business has a 50 day simple moving average of $68.60 and a two-hundred day simple moving average of $76.03. 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 1-year low of $61.31 and a 1-year high of $91.61.
Omnicom Group (NYSE:OMC – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The business services provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Omnicom Group had a return on equity of 37.06% and a net margin of 9.06%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. On average, research analysts predict that Omnicom Group Inc. will post 6.33 EPS for the current fiscal year.
Omnicom Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 21st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Tuesday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is 46.43%.
Insider Transactions at Omnicom Group
In other news, Director Linda Johnson Rice sold 1,900 shares of Omnicom Group stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $77.88, for a total value of $147,972.00. Following the completion of the transaction, the director now owns 9,784 shares in the company, valued at approximately $761,977.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.
Omnicom Group Company Profile
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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.
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