Omnicom Group Inc. (NYSE:OMC) Stake Lifted by Carret Asset Management LLC

Carret Asset Management LLC boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 43.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,715 shares of the business services provider’s stock after purchasing an additional 8,120 shares during the period. Carret Asset Management LLC’s holdings in Omnicom Group were worth $2,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Trust Walden Corp lifted its stake in Omnicom Group by 8.2% during the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after purchasing an additional 14,153 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Omnicom Group in the 1st quarter valued at approximately $1,860,000. Kodai Capital Management LP purchased a new stake in shares of Omnicom Group in the 4th quarter valued at approximately $27,419,000. Morningstar Investment Services LLC lifted its position in shares of Omnicom Group by 98.7% in the 4th quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock valued at $104,037,000 after acquiring an additional 595,746 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Omnicom Group in the 1st quarter valued at approximately $1,534,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on OMC. Macquarie restated an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. Finally, UBS Group upped their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $104.70.

Omnicom Group Stock Performance

OMC stock traded up $1.80 during midday trading on Monday, hitting $100.43. 1,426,200 shares of the company traded hands, compared to its average volume of 1,575,590. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $100.61. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.95. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The business has a 50 day simple moving average of $93.42 and a 200-day simple moving average of $92.85.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. Omnicom Group’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 EPS. As a group, equities research analysts predict that Omnicom Group Inc. will post 7.95 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. Omnicom Group’s payout ratio is presently 37.84%.

Insider Buying and Selling

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.