1,292,246 Shares in Omnicom Group Inc. $OMC Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,292,246 shares of the business services provider’s stock, valued at approximately $94,114,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in shares of Omnicom Group by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock worth $138,000 after purchasing an additional 869 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Omnicom Group in the 2nd quarter valued at about $241,000. Gabelli Funds LLC purchased a new position in shares of Omnicom Group in the 2nd quarter valued at about $1,061,000. Daiwa Securities Group Inc. lifted its stake in shares of Omnicom Group by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after purchasing an additional 1,482 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Omnicom Group by 14.1% in the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after purchasing an additional 44,746 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Omnicom Group stock opened at $87.78 on Friday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.57. The company has a market capitalization of $24.08 billion, a price-to-earnings ratio of 75.68, a PEG ratio of 0.58 and a beta of 0.64. The stock has a fifty day moving average of $81.37 and a two-hundred day moving average of $78.12. 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 (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 1.74% and a return on equity of 24.73%. The firm’s revenue was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 earnings per share. On average, analysts anticipate that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report 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. Rothschild & Co Redburn assumed coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target on the stock. Finally, Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $99.00.

Insider Activity

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 shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director directly owned 11,719 shares of the company’s stock, valued at $1,039,826.87. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

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.