First Trust Advisors LP lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 84.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,239,621 shares of the business services provider’s stock after acquiring an additional 567,221 shares during the quarter. First Trust Advisors LP’s holdings in Omnicom Group were worth $90,480,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Martingale Asset Management L P raised its position in Omnicom Group by 18.8% in the 1st quarter. Martingale Asset Management L P now owns 591,860 shares of the business services provider’s stock valued at $43,201,000 after purchasing an additional 93,806 shares during the last quarter. Rational Advisors LLC raised its position in Omnicom Group by 5,062.1% in the 1st quarter. Rational Advisors LLC now owns 3,407 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 3,341 shares during the last quarter. Piedmont Investment Advisors Inc. raised its position in Omnicom Group by 2.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 14,321 shares of the business services provider’s stock valued at $1,045,000 after purchasing an additional 354 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Omnicom Group in the 1st quarter valued at $40,000. Finally, Great West Life Assurance Co. Can raised its position in Omnicom Group by 3.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 600,862 shares of the business services provider’s stock valued at $43,732,000 after purchasing an additional 20,307 shares during the last quarter.
OMC stock opened at $78.81 on Friday. Omnicom Group Inc. has a 12 month low of $65.85 and a 12 month high of $84.35. The firm has a market capitalization of $17.35 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 2.86 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 1.89.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.09. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. Omnicom Group’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. On average, equities research analysts forecast that Omnicom Group Inc. will post 5.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be paid a $0.65 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.60 annualized dividend and a yield of 3.30%. Omnicom Group’s dividend payout ratio is currently 45.22%.
Several analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $76.00 to $84.00 in a research report on Wednesday, April 17th. Citigroup upped their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Macquarie set a $76.00 price target on shares of Omnicom Group and gave the company a “hold” rating in a research report on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Friday, January 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $77.33.
In other Omnicom Group news, CEO Jonathan B. Nelson sold 4,916 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $84.22, for a total value of $414,025.52. Following the transaction, the chief executive officer now directly owns 83,858 shares of the company’s stock, valued at approximately $7,062,520.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard S. Coleman, Jr. sold 2,556 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $75.25, for a total transaction of $192,339.00. The disclosure for this sale can be found here. Insiders sold a total of 72,910 shares of company stock worth $5,834,558 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
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Omnicom Group Company Profile
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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