28,900 Shares in Omnicom Group Inc. $OMC Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. purchased a new position in Omnicom Group Inc. (NYSE:OMC) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 28,900 shares of the business services provider’s stock, valued at approximately $2,105,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Omnicom Group in the 2nd quarter valued at about $914,156,000. State Street Corp increased its position in Omnicom Group by 40.4% in the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Wellington Management Group LLP increased its position in Omnicom Group by 522.9% in the 4th quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after buying an additional 4,364,797 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Omnicom Group by 57.1% during the 4th 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. 91.97% of the stock is owned by institutional investors.

Omnicom Group Price Performance

OMC stock opened at $85.51 on Tuesday. The company has a market capitalization of $23.46 billion, a P/E ratio of 73.72, a price-to-earnings-growth ratio of 0.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.78 and a current ratio of 0.92. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $88.55. The business has a 50-day simple moving average of $79.41 and a two-hundred day simple moving average of $77.27.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data 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). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. Research analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared 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. This represents a $3.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OMC shares. Zacks Research lowered Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Morgan Stanley boosted 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. The Goldman Sachs Group initiated coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Rothschild & Co Redburn initiated coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Finally, Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Four investment 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 data from MarketBeat.com, Omnicom Group has an average rating of “Hold” and an average price target of $99.00.

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.