Semmax Financial Advisors Inc. raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 98.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,714 shares of the business services provider’s stock after acquiring an additional 8,297 shares during the period. Semmax Financial Advisors Inc.’s holdings in Omnicom Group were worth $1,370,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. raised its stake in Omnicom Group by 2.6% during the 1st quarter. BlackRock Inc. now owns 16,305,379 shares of the business services provider’s stock valued at $1,190,131,000 after acquiring an additional 420,390 shares during the last quarter. Janus Henderson Group PLC increased its position in Omnicom Group by 13.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,158,808 shares of the business services provider’s stock worth $303,552,000 after purchasing an additional 494,508 shares during the period. Geode Capital Management LLC increased its position in Omnicom Group by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 3,852,265 shares of the business services provider’s stock worth $281,767,000 after purchasing an additional 597,017 shares during the period. Jensen Investment Management Inc. increased its position in Omnicom Group by 23.7% during the 2nd quarter. Jensen Investment Management Inc. now owns 3,362,378 shares of the business services provider’s stock worth $275,547,000 after purchasing an additional 645,094 shares during the period. Finally, Beutel Goodman & Co Ltd. increased its position in Omnicom Group by 0.7% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,239,540 shares of the business services provider’s stock worth $176,939,000 after purchasing an additional 21,673 shares during the period.
OMC has been the topic of several recent analyst reports. Barclays reiterated a “hold” rating and set a $85.00 target price on shares of Omnicom Group in a research report on Sunday, July 21st. ValuEngine cut Omnicom Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets cut Omnicom Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $88.00 to $86.00 in a research report on Sunday, July 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $80.33.
Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, July 17th. The business services provider reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.07. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Omnicom Group had a return on equity of 43.86% and a net margin of 8.89%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. On average, research analysts predict that Omnicom Group Inc. will post 6.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 20th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Thursday, September 19th. Omnicom Group’s dividend payout ratio is currently 45.22%.
In related news, SVP Andrew Castellaneta sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $80.16, for a total value of $160,320.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
Omnicom Group 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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