Hsbc Holdings PLC Buys New Position in Omnicom Group Inc. $OMC

Hsbc Holdings PLC purchased a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 920,054 shares of the business services provider’s stock, valued at approximately $66,995,000. Hsbc Holdings PLC owned about 0.34% of Omnicom Group as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management grew its position in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after acquiring an additional 296 shares during the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in Omnicom Group in the 2nd quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in Omnicom Group in the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID boosted its stake in Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the period. Finally, EFG International AG acquired a new stake in Omnicom Group during the 4th quarter worth $28,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Morgan Stanley lifted their price objective on Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Wells Fargo & Company increased their target price on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Citigroup decreased their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Trading Down 0.2%

Shares of Omnicom Group stock opened at $87.98 on Thursday. The company has a 50-day moving average of $81.04 and a two-hundred day moving average of $77.99. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The stock has a market cap of $24.14 billion, a PE ratio of 75.85, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.Omnicom Group’s revenue was up 63.4% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. On average, research analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.80 dividend. The ex-dividend date is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.6%. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,385 shares of Omnicom Group stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares of the company’s stock, valued at $1,039,826.87. The trade was a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.