QRG Capital Management Inc. Boosts Stake in Omnicom Group Inc. (NYSE:OMC)

QRG Capital Management Inc. grew its holdings in Omnicom Group Inc. (NYSE:OMCFree Report) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,583 shares of the business services provider’s stock after buying an additional 200 shares during the quarter. QRG Capital Management Inc.’s holdings in Omnicom Group were worth $4,030,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Omnicom Group by 8.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider’s stock valued at $353,437,000 after acquiring an additional 374,874 shares during the last quarter. Boston Partners boosted its stake in Omnicom Group by 21.7% during the 3rd quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock worth $277,726,000 after purchasing an additional 664,800 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Omnicom Group by 98.3% during the third quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock worth $225,842,000 after buying an additional 1,503,249 shares in the last quarter. Northern Trust Corp raised its position in shares of Omnicom Group by 13.2% in the third quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider’s stock valued at $192,976,000 after buying an additional 301,927 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Omnicom Group by 3.2% during the third quarter. Principal Financial Group Inc. now owns 1,894,753 shares of the business services provider’s stock worth $141,121,000 after acquiring an additional 58,943 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the transaction, the director now owns 9,830 shares in the company, valued at approximately $911,044.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Omnicom Group Trading Up 0.5 %

NYSE OMC opened at $96.30 on Tuesday. Omnicom Group Inc. has a 52 week low of $72.20 and a 52 week high of $99.23. The firm has a 50 day moving average of $93.56 and a two-hundred day moving average of $87.58. The stock has a market capitalization of $18.86 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 2.24 and a beta of 0.96. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33.

Omnicom Group (NYSE:OMCGet Free Report) last posted its earnings results on Tuesday, April 16th. The business services provider reported $1.67 EPS for the quarter, beating the consensus estimate of $1.52 by $0.15. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.58 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. As a group, research analysts expect that Omnicom Group Inc. will post 7.84 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 10th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s payout ratio is 37.84%.

Analyst Ratings Changes

Several research firms have issued reports on OMC. BNP Paribas raised Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Thursday, March 28th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $110.00 in a research note on Tuesday, May 7th. Macquarie raised their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

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Omnicom Group Profile

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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.

See Also

Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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