The Manufacturers Life Insurance Company Purchases Shares of 280,459 Omnicom Group Inc. $OMC

The Manufacturers Life Insurance Company purchased a new stake in Omnicom Group Inc. (NYSE:OMC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 280,459 shares of the business services provider’s stock, valued at approximately $20,426,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Omnicom Group in the 2nd quarter valued at approximately $2,082,476,000. State Street Corp lifted its stake in Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after purchasing an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Omnicom Group during the second quarter worth $914,156,000. Geode Capital Management LLC boosted its position in shares of Omnicom Group by 57.1% during the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after buying an additional 3,117,188 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in shares of Omnicom Group by 0.5% in the fourth quarter. First Eagle Investment Management LLC now owns 6,352,034 shares of the business services provider’s stock valued at $512,927,000 after buying an additional 33,557 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Down 0.1%

Omnicom Group stock opened at $87.78 on Friday. The firm has a market capitalization of $24.08 billion, a P/E ratio of 75.68, a P/E/G ratio of 0.58 and a beta of 0.64. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $89.57. The stock’s fifty day simple moving average is $81.37 and its 200-day simple moving average is $78.12.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was up 63.4% on a year-over-year basis. As a group, equities analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

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

Insider Activity

In other news, Director Linda Johnson Rice sold 1,385 shares of Omnicom Group stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup cut their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Morgan Stanley boosted their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, The Goldman Sachs Group began coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $99.00.

About Omnicom Group

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.