Parametric Portfolio Associates LLC lowered its position in Omnicom Group Inc. (NYSE:OMC) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,204,385 shares of the business services provider’s stock after selling 12,470 shares during the period. Parametric Portfolio Associates LLC owned 0.52% of Omnicom Group worth $89,209,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of Omnicom Group by 8.7% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 104 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Omnicom Group in the second quarter valued at approximately $104,000. Acrospire Investment Management LLC bought a new position in shares of Omnicom Group in the second quarter valued at approximately $149,000. Eagle Ridge Investment Management bought a new position in shares of Omnicom Group in the third quarter valued at approximately $201,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Omnicom Group in the third quarter valued at approximately $205,000. Institutional investors own 98.60% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at $74.41 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62. Omnicom Group Inc. has a 1 year low of $65.32 and a 1 year high of $88.09. The firm has a market cap of $17,153.96, a P/E ratio of 14.97, a P/E/G ratio of 2.09 and a beta of 1.24.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the company posted $1.06 EPS. Omnicom Group’s revenue was down 1.9% on a year-over-year basis. analysts expect that Omnicom Group Inc. will post 5.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Tuesday, December 19th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, December 18th. This is a boost from Omnicom Group’s previous quarterly dividend of $0.55. Omnicom Group’s payout ratio is 43.82%.
In other Omnicom Group news, insider Peter K. Sherman sold 8,310 shares of Omnicom Group stock in a transaction on Monday, December 11th. The shares were sold at an average price of $74.31, for a total transaction of $617,516.10. Following the completion of the sale, the insider now owns 21,271 shares of the company’s stock, valued at approximately $1,580,648.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 489 shares of Omnicom Group stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $74.32, for a total transaction of $36,342.48. Following the sale, the director now directly owns 7,777 shares of the company’s stock, valued at approximately $577,986.64. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Citigroup upgraded shares of Omnicom Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, September 6th. BMO Capital Markets reiterated a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a research note on Wednesday, October 18th. Jefferies Group reiterated a “hold” rating and issued a $82.00 target price on shares of Omnicom Group in a research note on Thursday, September 21st. Royal Bank of Canada cut their target price on shares of Omnicom Group from $96.00 to $87.00 and set an “outperform” rating for the company in a research note on Wednesday, October 18th. Finally, Morgan Stanley cut shares of Omnicom Group from an “equal weight” rating to an “underweight” rating and set a $72.00 target price for the company. in a research note on Monday, October 16th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $84.00.
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Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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