Pacer Advisors Inc. increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 11.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,617 shares of the business services provider’s stock after purchasing an additional 5,394 shares during the quarter. Pacer Advisors Inc.’s holdings in Omnicom Group were worth $2,927,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Wellington Management Group LLP grew its holdings in Omnicom Group by 1,192.5% in the 1st quarter. Wellington Management Group LLP now owns 1,029,423 shares of the business services provider’s stock worth $56,516,000 after acquiring an additional 949,777 shares during the last quarter. State Street Corp grew its holdings in Omnicom Group by 6.5% in the 1st quarter. State Street Corp now owns 12,223,835 shares of the business services provider’s stock worth $678,488,000 after acquiring an additional 745,690 shares during the last quarter. Unigestion Holding SA bought a new stake in Omnicom Group in the 1st quarter worth $34,653,000. Invesco Ltd. grew its holdings in Omnicom Group by 19.4% in the 1st quarter. Invesco Ltd. now owns 3,855,870 shares of the business services provider’s stock worth $211,690,000 after acquiring an additional 625,551 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Omnicom Group by 105.7% in the 1st quarter. Acadian Asset Management LLC now owns 960,017 shares of the business services provider’s stock worth $52,705,000 after acquiring an additional 493,384 shares during the last quarter. Institutional investors own 99.31% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Omnicom Group in a report on Thursday, July 23rd. They issued a “market perform” rating and a $60.00 price target on the stock. Morgan Stanley cut their target price on shares of Omnicom Group from $78.00 to $57.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 28th. Finally, Cfra cut their target price on shares of Omnicom Group from $80.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.63.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. Omnicom Group had a net margin of 6.72% and a return on equity of 38.27%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the company posted $1.68 EPS. Omnicom Group’s revenue was down 24.7% on a year-over-year basis. On average, research analysts forecast that Omnicom Group Inc. will post 4.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 12th. Investors of record on Monday, September 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.84%. Omnicom Group’s dividend payout ratio (DPR) is currently 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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