Chatham Capital Group Inc. lowered its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,895 shares of the business services provider’s stock after selling 2,500 shares during the period. Chatham Capital Group Inc.’s holdings in Omnicom Group were worth $2,328,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in OMC. JPMorgan Chase & Co. lifted its position in shares of Omnicom Group by 219.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 807,640 shares of the business services provider’s stock valued at $54,936,000 after acquiring an additional 554,724 shares during the period. Teachers Advisors LLC increased its stake in shares of Omnicom Group by 5.2% in the third quarter. Teachers Advisors LLC now owns 543,890 shares of the business services provider’s stock valued at $36,995,000 after buying an additional 26,661 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Omnicom Group by 4.4% in the third quarter. TIAA CREF Investment Management LLC now owns 478,590 shares of the business services provider’s stock valued at $32,554,000 after buying an additional 20,030 shares during the period. Legal & General Group Plc increased its stake in shares of Omnicom Group by 1.4% in the third quarter. Legal & General Group Plc now owns 1,256,135 shares of the business services provider’s stock valued at $85,442,000 after buying an additional 17,894 shares during the period. Finally, Vanguard Group Inc increased its stake in shares of Omnicom Group by 24.9% in the third quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock valued at $1,443,122,000 after buying an additional 4,228,195 shares during the period.
A number of research analysts have recently weighed in on OMC shares. Barclays upgraded Omnicom Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $76.00 to $84.00 in a report on Wednesday, April 17th. Citigroup lifted their price target on Omnicom Group from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. BMO Capital Markets raised their target price on Omnicom Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Macquarie set a $76.00 price target on Omnicom Group and gave the stock a “hold” rating in a research note on Thursday, February 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.33.
Shares of NYSE OMC traded down $0.82 during midday trading on Friday, reaching $79.36. The company had a trading volume of 1,475,800 shares, compared to its average volume of 1,932,282. The firm has a market cap of $17.64 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 2.85 and a beta of 0.69. The company has a current ratio of 0.88, a quick ratio of 0.79 and a debt-to-equity ratio of 1.89. Omnicom Group Inc. has a one year low of $65.85 and a one year high of $84.35.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.09. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.51 billion. Omnicom Group had a return on equity of 44.01% and a net margin of 8.76%. Omnicom Group’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS. As a group, equities research analysts forecast that Omnicom Group Inc. will post 5.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.60 annualized dividend and a dividend yield of 3.28%. Omnicom Group’s payout ratio is currently 45.22%.
In related news, SVP Andrew Castellaneta sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $80.24, for a total value of $353,056.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Linda Johnson Rice sold 497 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $83.59, for a total value of $41,544.23. Following the completion of the transaction, the director now directly owns 8,161 shares in the company, valued at $682,177.99. The disclosure for this sale can be found here. Insiders sold a total of 70,354 shares of company stock worth $5,642,219 in the last 90 days. 1.10% of the stock is currently owned by company insiders.
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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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