Green Square Capital LLC decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 56.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,791 shares of the business services provider’s stock after selling 4,958 shares during the quarter. Green Square Capital LLC’s holdings in Omnicom Group were worth $291,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OMC. Benjamin F. Edwards & Company Inc. grew its position in shares of Omnicom Group by 201.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 972 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Omnicom Group by 239.8% in the first quarter. Stratos Wealth Partners LTD. now owns 1,672 shares of the business services provider’s stock worth $122,000 after acquiring an additional 1,180 shares during the period. Credit Agricole S A purchased a new position in Omnicom Group in the first quarter worth approximately $151,000. Vigilant Capital Management LLC grew its position in Omnicom Group by 3,495.5% in the second quarter. Vigilant Capital Management LLC now owns 2,409 shares of the business services provider’s stock worth $184,000 after acquiring an additional 2,342 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new position in Omnicom Group in the second quarter worth approximately $199,000.
In other Omnicom Group news, Director Linda Johnson Rice sold 475 shares of the firm’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $70.02, for a total value of $33,259.50. Following the sale, the director now directly owns 7,966 shares in the company, valued at $557,779.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 1,075 shares of company stock worth $74,289. 1.20% of the stock is owned by insiders.
Shares of NYSE OMC traded up $0.53 during mid-day trading on Friday, hitting $68.60. The company had a trading volume of 2,021,962 shares, compared to its average volume of 2,250,038. The stock has a market cap of $15.26 billion, a P/E ratio of 13.45, a PEG ratio of 2.17 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. Omnicom Group Inc. has a 1-year low of $65.32 and a 1-year high of $83.34.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 17th. The business services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.06. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Omnicom Group had a return on equity of 40.82% and a net margin of 7.45%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.40 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post 5.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 21st were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, September 20th. Omnicom Group’s dividend payout ratio is presently 47.06%.
Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Thursday, July 19th. Wells Fargo & Co reiterated a “market perform” rating and issued a $75.00 price objective (down from $80.00) on shares of Omnicom Group in a research report on Tuesday, July 17th. ValuEngine upgraded Omnicom Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Finally, Royal Bank of Canada lowered their price target on Omnicom Group to $75.00 and set a “$70.60” rating for the company in a research report on Wednesday, July 18th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Omnicom Group currently has a consensus rating of “Hold” and a consensus target price of $76.91.
About Omnicom Group
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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