GYL Financial Synergies LLC purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,059 shares of the business services provider’s stock, valued at approximately $953,000.
A number of other hedge funds also recently bought and sold shares of OMC. New York State Teachers Retirement System increased its holdings in shares of Omnicom Group by 4.3% in the 1st quarter. New York State Teachers Retirement System now owns 299,676 shares of the business services provider’s stock valued at $21,873,000 after acquiring an additional 12,474 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Omnicom Group by 161.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 121,018 shares of the business services provider’s stock valued at $8,833,000 after acquiring an additional 74,784 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Omnicom Group by 10.7% in the 1st quarter. IFM Investors Pty Ltd now owns 14,522 shares of the business services provider’s stock valued at $1,060,000 after acquiring an additional 1,398 shares during the last quarter. Joseph P. Lucia & Associates LLC purchased a new position in shares of Omnicom Group in the 1st quarter valued at about $97,000. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Omnicom Group by 6.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,153,487 shares of the business services provider’s stock valued at $84,193,000 after acquiring an additional 73,230 shares during the last quarter.
NYSE:OMC traded down $0.23 during mid-day trading on Friday, reaching $79.95. 10,526 shares of the stock were exchanged, compared to its average volume of 1,610,053. The company has a market capitalization of $17.64 billion, a PE ratio of 13.93, a P/E/G ratio of 2.85 and a beta of 0.69. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 1.89. Omnicom Group Inc. has a 1 year low of $65.85 and a 1 year high of $84.35.
The company 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 dividend of $0.65 per share. The ex-dividend date is Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a yield of 3.25%. Omnicom Group’s dividend payout ratio is presently 45.22%.
A number of research analysts have recently commented on OMC shares. Macquarie set a $76.00 price objective on Omnicom Group and gave the company a “hold” rating in a report on Thursday, February 14th. Citigroup increased their price objective on Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Barclays upgraded Omnicom Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $76.00 to $84.00 in a report on Wednesday, April 17th. Finally, BMO Capital Markets increased their price objective on Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $77.33.
In other Omnicom Group news, Chairman John Wren sold 60,541 shares of Omnicom Group stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total value of $4,833,593.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew Castellaneta sold 4,400 shares of Omnicom Group stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $80.24, for a total value of $353,056.00. The disclosure for this sale can be found here. Insiders have 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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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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