Royal London Asset Management Ltd. Boosts Position in Omnicom Group Inc. $OMC

Royal London Asset Management Ltd. grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,397 shares of the business services provider’s stock after buying an additional 7,340 shares during the period. Royal London Asset Management Ltd.’s holdings in Omnicom Group were worth $8,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Omnicom Group by 54.7% in the second quarter. Van ECK Associates Corp now owns 117,227 shares of the business services provider’s stock valued at $8,538,000 after acquiring an additional 41,466 shares during the period. Hsbc Holdings PLC increased its holdings in Omnicom Group by 32.6% during the 2nd quarter. Hsbc Holdings PLC now owns 920,054 shares of the business services provider’s stock worth $66,995,000 after acquiring an additional 226,133 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $8,093,000. Fulcrum Asset Management LLP purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $138,000. Finally, Glenview Trust Co bought a new position in Omnicom Group in the 2nd quarter valued at $3,387,000. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Trading Down 0.7%

Shares of Omnicom Group stock opened at $87.67 on Tuesday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.57. The firm has a market cap of $24.05 billion, a PE ratio of 75.58, a PEG ratio of 0.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The company has a 50 day simple moving average of $82.01 and a two-hundred day simple moving average of $78.34.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion during 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 quarterly revenue was up 63.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. 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 announced a quarterly dividend, which will be paid on Friday, October 9th. Investors 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 annualized dividend and a yield of 3.7%. Omnicom Group’s payout ratio is 275.86%.

Wall Street Analyst Weigh In

OMC has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Citigroup dropped their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price for the company. Finally, The Goldman Sachs Group started coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $99.00.

Insider Buying and Selling

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

Omnicom Group 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.