Meyer Handelman Co. Has $16.38 Million Position in Omnicom Group Inc. (NYSE:OMC)

Meyer Handelman Co. lifted its position in Omnicom Group Inc. (NYSE:OMC) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,314 shares of the business services provider’s stock after acquiring an additional 26,073 shares during the period. Meyer Handelman Co. owned approximately 0.10% of Omnicom Group worth $16,375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OMC. Choreo LLC bought a new position in shares of Omnicom Group during the second quarter worth $387,000. Federated Hermes Inc. raised its stake in Omnicom Group by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 44,489 shares of the business services provider’s stock worth $3,991,000 after buying an additional 10,778 shares during the period. Parallel Advisors LLC lifted its holdings in Omnicom Group by 1.8% during the second quarter. Parallel Advisors LLC now owns 7,184 shares of the business services provider’s stock worth $644,000 after acquiring an additional 126 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Omnicom Group by 6.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider’s stock valued at $127,398,000 after acquiring an additional 81,598 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after acquiring an additional 364,665 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.

Omnicom Group Stock Up 1.8 %

Omnicom Group stock opened at $84.63 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 1-year low of $81.42 and a 1-year high of $107.00. The company has a fifty day simple moving average of $94.45 and a 200 day simple moving average of $96.64. The company has a market cap of $16.51 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.98.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the company earned $1.86 EPS. Research analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is 38.25%.

Wall Street Analyst Weigh In

OMC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Barclays upped their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. UBS Group boosted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company reduced their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.