Comerica Bank lifted its position in Omnicom Group Inc. (NYSE:OMC – Get Rating) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,680 shares of the business services provider’s stock after acquiring an additional 806 shares during the period. Comerica Bank’s holdings in Omnicom Group were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems boosted its holdings in Omnicom Group by 14.6% in the second quarter. Kentucky Retirement Systems now owns 15,269 shares of the business services provider’s stock worth $971,000 after purchasing an additional 1,948 shares during the period. Duality Advisers LP boosted its holdings in shares of Omnicom Group by 526.7% in the 2nd quarter. Duality Advisers LP now owns 32,909 shares of the business services provider’s stock valued at $2,093,000 after buying an additional 27,658 shares during the period. CHICAGO TRUST Co NA acquired a new position in Omnicom Group in the third quarter valued at approximately $224,000. Assenagon Asset Management S.A. acquired a new position in Omnicom Group in the second quarter valued at approximately $1,118,000. Finally, Cetera Advisor Networks LLC boosted its stake in Omnicom Group by 15.6% in the second quarter. Cetera Advisor Networks LLC now owns 20,680 shares of the business services provider’s stock valued at $1,315,000 after acquiring an additional 2,798 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.
Insider Activity at Omnicom Group
In other Omnicom Group news, Director Linda Johnson Rice sold 1,300 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $70.79, for a total value of $92,027.00. Following the completion of the transaction, the director now directly owns 10,048 shares in the company, valued at $711,297.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Omnicom Group Stock Up 2.0 %
OMC stock opened at $83.78 on Friday. Omnicom Group Inc. has a 12 month low of $61.31 and a 12 month high of $91.61. The firm has a market cap of $17.08 billion, a PE ratio of 13.45, a P/E/G ratio of 4.68 and a beta of 0.84. The firm has a 50 day simple moving average of $80.08 and a 200 day simple moving average of $72.49. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.95 and a quick ratio of 0.84.
Omnicom Group (NYSE:OMC – Get Rating) last released its quarterly earnings data on Tuesday, October 18th. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.13. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.34 billion. Omnicom Group had a return on equity of 40.82% and a net margin of 9.13%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. Equities research analysts forecast that Omnicom Group Inc. will post 6.51 earnings per share for the current fiscal year.
Omnicom Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 11th. Investors of record on Wednesday, December 21st were given a $0.70 dividend. The ex-dividend date was Tuesday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.34%. Omnicom Group’s dividend payout ratio (DPR) is 44.94%.
About Omnicom Group
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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