Meyer Handelman Co. Raises Stake in Omnicom Group Inc. (NYSE:OMC)

Meyer Handelman Co. raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,241 shares of the business services provider’s stock after purchasing an additional 6,744 shares during the period. Meyer Handelman Co. owned 0.08% of Omnicom Group worth $16,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in OMC. Richardson Financial Services Inc. purchased a new position in Omnicom Group in the 4th quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Omnicom Group during the 2nd quarter valued at about $33,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Davis Capital Management bought a new stake in Omnicom Group in the third quarter worth $36,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group in the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Activity

In other news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OMC shares. Bank of America increased their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Macquarie restated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, UBS Group raised their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.30.

Omnicom Group Trading Up 1.1 %

Shares of NYSE:OMC opened at $102.86 on Friday. The stock’s 50-day simple moving average is $99.03 and its two-hundred day simple moving average is $94.96. Omnicom Group Inc. has a 52-week low of $73.28 and a 52-week high of $104.80. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market capitalization of $20.12 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the firm earned $1.81 EPS. Omnicom Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a dividend of $0.70 per share. The ex-dividend date was Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.72%. Omnicom Group’s payout ratio is 38.73%.

Omnicom Group Company 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.