Kovitz Investment Group Partners LLC bought a new stake in shares of Omnicom Group Inc. (NYSE:OMC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,496 shares of the business services provider’s stock, valued at approximately $763,000.
Several other large investors also recently modified their holdings of OMC. Elkfork Partners LLC bought a new position in shares of Omnicom Group during the 4th quarter valued at $3,697,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Omnicom Group by 24.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,243 shares of the business services provider’s stock valued at $1,037,000 after purchasing an additional 2,816 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Omnicom Group by 17.4% during the 4th quarter. Profund Advisors LLC now owns 7,677 shares of the business services provider’s stock valued at $559,000 after purchasing an additional 1,137 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Omnicom Group by 4.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 87,435 shares of the business services provider’s stock valued at $6,368,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Omnicom Group during the 4th quarter valued at $2,551,000.
In other news, Director Linda Johnson Rice sold 499 shares of the business’s stock in a transaction dated Thursday, April 19th. The shares were sold at an average price of $75.31, for a total transaction of $37,579.69. Following the transaction, the director now owns 7,900 shares in the company, valued at approximately $594,949. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.
Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, April 17th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. Omnicom Group had a net margin of 7.25% and a return on equity of 39.97%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the firm posted $1.02 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. research analysts expect that Omnicom Group Inc. will post 5.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 12th. Stockholders of record on Thursday, June 14th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, June 13th. This represents a $2.40 annualized dividend and a dividend yield of 3.23%. Omnicom Group’s payout ratio is 47.06%.
A number of research analysts have recently weighed in on OMC shares. Atlantic Securities upgraded shares of Omnicom Group from an “underweight” rating to a “neutral” rating in a report on Friday, March 2nd. Royal Bank of Canada downgraded shares of Omnicom Group from an “outperform” rating to a “sector perform” rating and set a $83.00 price target on the stock. in a report on Friday, February 16th. Zacks Investment Research downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, March 26th. Pivotal Research cut their price target on shares of Omnicom Group from $75.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, April 3rd. Finally, Barclays set a $84.00 price target on shares of Omnicom Group and gave the company a “hold” rating in a report on Wednesday, April 18th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Omnicom Group presently has a consensus rating of “Hold” and an average target price of $81.09.
Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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