Cigna Investments Inc. New increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 14.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,964 shares of the business services provider’s stock after purchasing an additional 900 shares during the period. Cigna Investments Inc. New’s holdings in Omnicom Group were worth $380,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in Omnicom Group by 82.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,578,792 shares of the business services provider’s stock worth $140,801,000 after buying an additional 1,164,522 shares during the period. Wellington Management Group LLP boosted its holdings in Omnicom Group by 1,192.5% in the first quarter. Wellington Management Group LLP now owns 1,029,423 shares of the business services provider’s stock valued at $56,516,000 after purchasing an additional 949,777 shares during the last quarter. State Street Corp grew its position in Omnicom Group by 6.5% during the 1st quarter. State Street Corp now owns 12,223,835 shares of the business services provider’s stock worth $678,488,000 after purchasing an additional 745,690 shares during the period. Invesco Ltd. grew its position in Omnicom Group by 19.4% during the 1st quarter. Invesco Ltd. now owns 3,855,870 shares of the business services provider’s stock worth $211,690,000 after purchasing an additional 625,551 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Omnicom Group by 105.7% during the 1st quarter. Acadian Asset Management LLC now owns 960,017 shares of the business services provider’s stock valued at $52,705,000 after buying an additional 493,384 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.
Several analysts recently commented on the company. Wolfe Research began coverage on Omnicom Group in a report on Thursday, July 23rd. They set a “market perform” rating and a $60.00 target price on the stock. Evercore ISI started coverage on shares of Omnicom Group in a research note on Tuesday, September 8th. They set an “underperform” rating on the stock. Finally, Standpoint Research initiated coverage on shares of Omnicom Group in a report on Tuesday, September 8th. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $69.63.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 28th. The business services provider reported $0.92 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. Omnicom Group had a return on equity of 38.27% and a net margin of 6.72%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the company posted $1.68 EPS. The business’s quarterly revenue was down 24.7% on a year-over-year basis. On average, research analysts predict that Omnicom Group Inc. will post 4.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 12th. Shareholders of record on Monday, September 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 42.90%.
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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