OMERS ADMINISTRATION Corp Purchases Shares of 17,165 Omnicom Group Inc. $OMC

OMERS ADMINISTRATION Corp acquired a new position in Omnicom Group Inc. (NYSE:OMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,165 shares of the business services provider’s stock, valued at approximately $1,250,000.

Other hedge funds have also made changes to their positions in the company. Activest Wealth Management lifted its holdings in shares of Omnicom Group by 2,960.0% during the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Omnicom Group in the 2nd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in Omnicom Group in the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID raised its position in Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. Finally, EFG International AG acquired a new position in shares of Omnicom Group during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. The Goldman Sachs Group initiated coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Citigroup lowered their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Zacks Research lowered shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company boosted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $99.00.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,385 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Omnicom Group Stock Performance

Omnicom Group stock opened at $87.98 on Thursday. The stock has a market cap of $24.14 billion, a P/E ratio of 75.85, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $81.04 and a 200-day moving average of $77.99. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm’s quarterly revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. On average, analysts expect that Omnicom Group Inc. will post 10.35 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.