Quantitative Investment Management LLC Boosts Stock Position in Omnicom Group Inc. $OMC

Quantitative Investment Management LLC lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 205.3% in the second quarter, Holdings Channel.com reports. The fund owned 33,561 shares of the business services provider’s stock after purchasing an additional 22,569 shares during the period. Quantitative Investment Management LLC’s holdings in Omnicom Group were worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Omnicom Group during the 2nd quarter worth about $2,082,476,000. Bank of New York Mellon Corp purchased a new position in Omnicom Group during the 2nd quarter valued at about $914,156,000. State Street Corp grew its holdings in Omnicom Group by 40.4% during the 4th quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Omnicom Group by 522.9% during the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock valued at $419,858,000 after buying an additional 4,364,797 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Omnicom Group by 57.1% during the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock valued at $690,327,000 after buying an additional 3,117,188 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on OMC shares. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. Citigroup cut their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Wells Fargo & Company boosted their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. The Goldman Sachs Group initiated coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Finally, Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Trading Up 0.0%

Shares of Omnicom Group stock opened at $88.32 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $89.57. The firm has a market cap of $24.23 billion, a PE ratio of 76.14, a PEG ratio of 0.59 and a beta of 0.64. The company has a 50 day simple moving average of $81.71 and a two-hundred day simple moving average of $78.24.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 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%.Omnicom Group’s quarterly revenue was up 63.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. Analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s dividend payout ratio is currently 275.86%.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director owned 11,719 shares in the company, valued at $1,039,826.87. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Omnicom Group Company 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.